Globeleq’s green hydrogen project in Sokhna is set for development. This is after the Egyptian government granted the British independent power producer (IPP) a go-ahead.
The permission was agreed on by the New and Renewable Energy Authority (NREA) and the Suez Canal Economic Zone General Authority (SCZONE). Other parties involved are the Egyptian Sovereign Wealth Fund for Investment and Development (TSFE) and the Egyptian Electricity Transmission Company (EETC).
Responsibility of the Globeleq as far as the project is concerned
Globeleq will be responsible for the development, financing, construction, ownership, and operation of the green hydrogen project in Sokhna. A total of 9 GW worth of solar and wind power plants will be used to produce the electricity that will be turned into hydrogen. The comp[any is targeting 3.6 GW of electrolysis capacity.
To put the globe on a sustainable path, bold and swift global action is needed. This is according to Mike Scholey, CEO of Globaleq. “We are thrilled to support egyopts ambitious green program. This is because the North African country is a crucial nation for Globeleq.
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Globeleq seeks to generate hydrogen competitively for export and the local market. This will be achieved by utilizing Egypt’s top wind and solar PV resources. Additionally, the regulatory environment that the Egyptian government has created for investments will also help achieve this,” explained Scholey.
Development plans of the Globeleq green hydrogen project in Sokhna
Globeleq will implement its project in stages. A pilot phase will be the initial stage, and it will have a 100 MW electrolysis capacity. The hydrogen generated will be converted into green ammonia, which is required for the creation of fertilizers. In addition, Globeleq also intends to develop more fuels derived from hydrogen. This is the case with e-methanol. The latter is produced by combining hydrogen and carbon dioxide (CO2) (H2).
This new green hydrogen in Sokhna has the potential to replace traditional energy sources like gasoline and diesel. Globeleq joins other energy producers in Sokhna, such as ReNEW Power of India and Acwa Power of Saudi Arabia.
