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On November 15, India's ReNew Power announced that it would build a green hydrogen plant in Egypt's Suez Canal Economic Zone at a cost of $8 billion
.
ReNew
Power said the plant is expected to produce 220,000 mt/year of green hydrogen
once operational.
Elsewedy
Electric will be the local co-developer
of the green hydrogen project.
In the first phase of the project, a 20,000-tonne/year green hydrogen pilot plant will be built, scheduled to be commissioned
in 2026.
The second phase will increase the production capacity to an estimated 220,000 tons/year
.
ReNew Power was founded in 2011 as ReNew Energy
A subsidiary
of Global.
The company is one of India's largest independent renewable energy power generation companies, with more than 120 wind, solar and hydropower projects
in nine Indian states as of August 2022.
Egypt's agreement with ReNew Power is one of
eight green hydrogen and green ammonia framework agreements signed by the Egyptian government on November 15.
The project is concentrated in the Red Sea port of Ain
Sokhna and Suez Canal Economic Zone nearby
.
These agreements are expected to help Egypt become a green hydrogen production hub and account for 5%
of the global market share by 2040.
