Two leading British investors in renewable energy, Globeleq, and Actis, have each signed a Memorandum of Understanding with the Egyptian Government for green hydrogen development.
Globeleq, the leading independent power company in Africa, has signed an agreement with the New and Renewable Energy Authority (NREA), the General Authority for Suez Canal Economic Zone (SCZONE), the Sovereign Fund of Egypt for Investment and Development (TSFE), and the Egyptian Electricity Transmission Company (EETC), to jointly develop a large-scale green hydrogen facility within the Suez Canal Economic Zone.
Globeleq will develop, finance, build and operate the green hydrogen project. It will be developed in 3 phases, totaling 3.6 GW of electrolyzers and around 9 GW of solar and wind power generation. The project will initially focus on green ammonia fertilizers, but other potential end-uses of green…
Two Major UK Companies Sign Agreements with Egypt for Green Hydrogen Development
