A proposal has been announced for the construction of a 9.2GW solar and wind-powered hydrogen facility in Egypt. The proposal was announced by a subsidiary of the Australian mining corporation Fortescue Metals Group.
The green energy company Fortescue Future Industries (FFI), has already signed an MoU to conduct the project’s feasibility studies. Reportedly the proposed project may involve local manufacturing facilities for solar components like modules.
Discussions on the implementation of the project
Egyptian President Abdel Fattah El-Sisi and FFI executive chairman Andrew Forrest met last week. They got together ahead of the COP27 climate change conference that will take place in Egypt later this year.
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The discussions were based on how FFI and Egypt’s electrical and renewable energy sector could work together to produce green ammonia and green hydrogen. This was revealed by a representative for the president.
According to Forrest, Egypt’s superior wind and sun resources can supply the renewable energy needed to make substantial amounts of green power, green hydrogen, and green ammonia.
The 9.2GW solar and wind-powered hydrogen facility in Egypt to contribute to the country’s race to green hydrogen
The news follows the signing of an MoU by Globeleq last month to establish a green hydrogen facility in Egypt. This facility could include 3.6GW of electrolyzers and 9GW of solar PV and wind output.
Another agreement to build a green hydrogen facility in Egypt was also signed earlier this year by Scatec. The CEO of Scatec also spoke last week with President Abdel Fattah El-Sisi about collaboration on renewable energy projects.
Egypt intends to finalize green hydrogen projects worth $10 billion by the end of 2022. In addition, Egypt forecasts that investments in green hydrogen projects will reach $41.5bn by 2030 and exceed $81.6bn thereafter.