ACWA Power’s $4B Green Hydrogen Project is One of Egypt’s Energy Transition Drivers

ACWA Power, a globally renowned developer and operator in the realms of power generation and water desalination, recently signed a framework agreement, initiating the first phase of an innovative green hydrogen venture in Egypt. This development is set to elevate Egypt's status as a leading green hydrogen producer on the global stage, signifying a pivotal shift in the nation's energy sector.

The project is ambitious in scope, aiming to construct a vast green ammonia facility capable of producing 600,000 tonnes annually, with an estimated $4 billion investment. This is just the beginning, as plans for a second phase envisage expanding capacity to an impressive 2 million tonnes per year. The project is a collaborative endeavor, involving major partners such as the Sovereign Fund of Egypt (TSFE), the Suez Canal Economic Zone (SCZone), the Egyptian Electricity Transmission Company (EETC), and the New and Renewable Energy Authority (NREA).

Central to this pioneering project is the integration of renewable energy sources. Harnessing both wind and solar power, the venture is in line with the global trend towards sustainable and environmentally friendly practices, marking a significant step in Egypt's pursuit of renewable energy solutions.

The formalization of this framework agreement marks a significant step in realizing this extensive green hydrogen facility. Marco Arcelli, CEO of ACWA Power, shared his enthusiasm for the project, noting Egypt's potential to emerge as a global leader in green hydrogen production. He emphasized the company's excitement to contribute to Egypt's energy transition. This initiative not only propels Egypt to the forefront of green hydrogen production but also plays a vital role in the international efforts to address climate change.