Masdar, an Abu Dhabi-based renewable energy company, and Hassan Allam Utilities, a Cairo-based partner, have secured Egypt’s support for the development of green hydrogen hubs on the Red Sea and Mediterranean coasts of the country, with an aim of expanding up to 4 GW of electrolysers by 2030. The partners signed two MoUs with the New and Renewable Energy Authority (NREA), the Egyptian Electricity Transmission Company (EETC), the Sovereign Fund of Egypt, and the General Authority for Suez Canal Economic Zone (SCZONE) to cooperate on the project development.

According to the reports, the project will be developed in stages by Masdar and Hassan Allam Utilities. In the first phase, they plan to build a green hydrogen manufacturing plant that will create 100,000 tonnes of e-methanol per year for Suez Canal bunkering. By 2026, that facility would be operational. The electrolysis capacity in the Suez Canal Economic Zone and on the Mediterranean might be increased to 4 GW by 2030, allowing for the production of 2.3 million tonnes of green ammonia for export and the supply of green hydrogen to local industries.