Globeleq inks framework agreement for 3.6-GW green H2 project in Egypt
Framework agreement for 3.6-GW green hydrogen project in Egypt. Image by: Globeleq.
November 21 (Renewables Now) - Africa-focused independent power producer (IPP) Globeleq has signed a framework agreement with Egyptian authorities that paves the way for the construction of a 3.6-GW green hydrogen production hub in Egypt.
The pact was signed at the COP27 climate summit in Sharm El Sheikh, Egypt, Globeleq said on Monday. Its partners in the initiative will be the General Authority for Suez Canal Economic Zone (SCZONE), the Sovereign Fund of Egypt for Investment and Development (TSFE), the New and Renewable Energy Authority (NREA), and the Egyptian Electricity Transmission Company (EETC).
Initially unveiled in August, Globeleq’s plan is to develop, finance, build, own and operate a huge hydrogen complex within the Suez Canal Economic Zone powered by up to 9 GW of wind and solar capacity. The capacity will be installed in three phases over the next 12 years, the first one of which will involve the construction of a pilot electrolyser of 100 MW to produce 100,000 tonnes of green ammonia annually, mainly for export to Europe and Asia. Production is due to begin by 2026-2027.
Other end-uses of the produced green hydrogen, including green fuels, will be considered in the medium and longer term, Globeleq said.
At present, Globeleq has more than 1.5 GW of operational power plants in Africa and is building some 722 MW. An additional 2 GW of projects are currently under development.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.