Egypt signs MoU for French, Emirati projects to produce green fuel in SCZone

CAIRO - 20 April 2022: Prime Minister  Mostafa Madbouly witnessed the signing ceremony for 2 Memoranda of Understanding. 

 

The first MOU is among the General Authority of Suez Canal Economic Zone, the Sovereign Fund of Egypt, the Egyptian Electricity Transmission Company, the Authority of New and Renewable Energy, and EDF Renewables and Zero-Waste Egypt Alliance. 

 

The second MOU is among the Egyptian government parties and  AMEA Power UAE which is affiliated with Al Nowais Group.

 

The Memoranda of Understanding are aiming to establish projects to produce green fuel and green ammonia in the Sokhna.

 

The signing ceremony is held in the presence of Mohamed Shaker Al-Marqabi, Minister of Electricity and Renewable Energy, and Hala Al-Saeed, Minister of Planning and Economic Development.

 

The MOUs were signed by: Yehia Zaki, chairman of the Suez Canal economic zone, Ayman Soliman, CEO of the Sovereign Fund of Egypt, Sabah Mashali, Chairman of the Egyptian Electricity Transmission Company, and Mohamed El-Khayat, chairman of the authority of New and Renewable, CEO of French EDF Renewables, and President of the UAE Al Nowais Group.

 

“The Egyptian state, under the leadership of President Abdel Fattah El-Sisi, is keen to sign more projects that support the transition to a green economy. The signing with EDF Renewables and Zero-Waste Egy Alliance, and AMEA Power UAE is a part of several partnerships undertaken by the Egyptian state in this framework. Every effort in this regard is consistent with Egypt's enormous capabilities to produce green hydrogen and green ammonia.” Egyptian prime minister, Mostafa Madbouly said.

 

“Signing the memorandum of understanding with the French company EDF Renewables and Zero-Waste Egy Alliance aims to establish a project to produce 350,000 tons of green fuel annually in the Sokhna area through two phases, with investments of $3 billion. The work will begin in the first phase with a production capacity of 140,000 tons for ship bunkering purposes. The Commercial operation will take place in the first quarter of 2026. The second memorandum of understanding with EMEA Power, a subsidiary of the Emirati Al Nowais Group, aims to produce green ammonia and hydrogen in Sokhna, with a production capacity of 240,000 tons annually in the first phase of the project.” Chairman of SCZone, Eng. Yehia Zaki declared.

 

The French company EDF Renewables is a subsidiary of the EDF Group owned by the French government 84 percent. It is one of the world's leading companies in the field of renewable energy, as it develops, builds, and operates clean energy plants in more than 22 countries based on wind and solar energy. The Emirati Al Nowais Group is an investment company that undertakes work on mega projects and implements them according to sustainable development plans, especially projects related to the energy and infrastructure sectors.

 

Regarding this matter, SCZone has signed several agreements for green fuel production, as SCZone signed a memorandum of understanding with the Norwegian company Scatec regarding the work of a new facility for the manufacture of green ammonia with a capacity of one million tons annually, using green hydrogen produced from renewable energy.

 

It also signed another memorandum of understanding to cooperate with the international company "Maersk" to establish a project for providing clean energy and green fuels to achieve zero carbon emissions in shipping, as "Maersk" is equipping 12 ships to work with green hydrogen.