ReNew Power set to invest $8bn in green hydrogen plant in Egypt

A framework agreement has been inked between ReNew Power and the Egyptian authorities for the construction of a green hydrogen plant in Egypt. The General Authority of the Suez Canal Economic Zone (SCZone) made the announcement in a press release released on Friday.

The agreement, which was inked in New Delhi during a roadshow conducted by a delegation from the SCZone in India, provides for a total investment $8b.

There will be two phases to the project. In the first phase, which will be an experimental one, a 150 megawatt electrolyser powered by 570 megawatts of renewable energy should be able to produce 20,000 tonnes of green hydrogen and 100,000 tonnes of green ammonia annually.

Production capacity will be boosted to 220,000 tonnes of green hydrogen and one million tonnes of green ammonia per year. After the installation of a 1.5 gigawatt electrolyser fueled by 5.68 gigawatts of renewable energy.