France’s EDF Renewables and UAE-based Zero Waste have signed an agreement to help develop a green hydrogen mega-project development with the Egyptian government.
The Memorandum of Understanding will speed up the timeline of the maritime industry to reach net-zero emissions by securing carbon-free fuel for ships, vessels and tankers crossing the Suez Canal.
The project is a collaboration between the Ministry of Electricity, the General Authority for Suez Canal Economic Zone, or SCZONE, and the Sovereign Fund of Egypt, according to a statement. The project will be located at the Suez Canal Economic Zone.
“By offering zero-carbon fuel to the maritime industry crossing the Suez Canal by 2026, Egypt will continue to be a leader in the fight against climate change,” Amr Elsawaf, chairman of Zero Waste, said.
He added that the project will have a capacity of 350,000 tons of green ammonia per year.
The MoU was signed in the presence of the Egyptian Prime Minister, Moustafa Madbouly, the Minister of Electricity and Renewable Energy, Mohamed Shaker, and the Minister of Planning and Economic Development Hala Elsaid, in Egypt's capital, Cairo.
“Developing a mega-project for green hydrogen and ammonia production in Egypt, will be a key milestone for the region,”said EDF Renewables Executive Vice-President of International Operation Frederic Belloy.
“Moreover, it will create local job opportunities in the country and will support the decarbonization process of some of the most intensive carbon producing industries, which are transportation and mobility and are our primary commitment for energy transition,” he added.