Plans to turn SCZONE into green fuel hub gain momentum

December 9, 2022, by Aida Čučuk

Seven memorandum of understandings (MoU) have been signed in Egypt to kick off studies on green hydrogen production projects in Suez Canal Economic Zone (SCZONE).

The MOUs were signed on 7 December between the Ministry of Electricity and Renewable Energy, represented by the New and Renewable Energy Development, the Egyptian Electricity Transmission Company, the Sovereign Fund of Egypt, the General Authority of the Suez Canal Economic Zone, and consortia of international and local companies.

The consortia includes Saudi Arabia’s Acwa Power, Benchmark’s consortium, the Holding Company for Chemical Industries, China’s China Energy, Germany’s DAI, India’s OCIOR ENERGY, VoltaLia – TAQA, and Britain’s British Petroleum.

Egypt’s Prime Minister Mostafa Madbouly commented on the occasion stating that the MoUs reflect efforts to position the country as the regional centre for green fuel production.

The new MoUs are a continuation of the signings of 16 previous MoUs for the production of green hydrogen, green ammonia, and e-methanols, 9 of which were converted into framework agreements during COP27.

“The integration between the industrial zones and the affiliated ports gave the economic zone a competitive advantage that made it one of the most important global destinations and a regional centre for green fuel industries, as well as its infrastructure and network of facilities enjoyed by the Sokhna and East Port Said industrial zones, which are required to complete giant green hydrogen projects, in addition to energy supplies from outside the region in coordination and cooperation with the Ministry of Electricity,” Waleid Gamal El-Dien, Chairman of SCZONE, said.