Agreement signed for construction of US$ 8bn green hydrogen factory in Sokhna, Egypt

An agreement has been inked for the development of a US$ 8bn green hydrogen factory in Sokhna, Egypt. The agreement was signed between the Egyptian government and the ReNEW Power.ReNEW Power is a renewable energy producer based in Gurgaon, India. The company has worked with the Egyptian Electricity Transmission Company (EETC), in addition to the General Authority of the Suez Canal Economic Zone (Sczone). Moreover, the company has worked with the Sovereign Wealth Fund of Egypt (TSFE), as well as the New and Renewable Energy Authority (NREA).Search for construction leadsAs per this recent agreement, ReNEW will construct units capable of converting electricity into hydrogen as well as its derivatives. Located at the port city of Ain Sokhna, in the governorate of Suez, the facility is anticipated to have a 1.32 million tonnes capacity per annum.The implementation phaseConstruction of…

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