SCZone signs 6 MoUs worth $10 bln on green hydrogen, green ammonia projects

The Suez Canal Economic Zone (SCZone) said it aims to turn Ain Sokhna to a leading regional hub for green hydrogen industries in line with the global transition towards clean energy.

Six memorandums of understanding (MoUs) have been signed on green hydrogen and green ammonia projects with major international companies and consortiums to establish industrial facilities and complexes in Ain Sokhna city, with a view to producing green fuel and using it for ship bunkering purposes or exporting it to foreign markets, the SCZone said in a statement Friday.

The six MoUs were signed between March and May 2022 with Scatec Solar ASA, a Norway-based integrated independent solar power producer, Abu Dhabi Future Energy Company (Masdar of the UAE), Hassan Allam Utilities, French oil major TotalEnergies, Egypt’s Inara Capital, Danish shipping company Maersk, France’s EDF Group, Egypt’s Zero Waste company, and AMEA Power of the United Arab Emirates.

The statement noted that investments in green hydrogen projects are expected to exceed $10 billion should those MoUs be implemented.

Source: State Information Service Egypt

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