Egypt's 1st green methanol plant to enter service in 2026

Egypt is set to introduce its first green methanol plant in 2026. This news comes from reliable sources within the New and Renewable Energy Authority. The plant will be located at SCzone and the methanol produced will fuel ships traversing the Suez Canal apart from being exported. The plant is set to operate on green hydrogen, with the planned cost for setting up such plants in Egypt estimated at a whopping $85 billion. This significant green energy undertaking is expected to contribute to the creation of 45,000 direct jobs as well as 250,000 indirect jobs. The future vision of green energy in Egypt includes producing 500,000 tons of green hydrogen annually by 2030. This will be done by harnessing 19,000 megawatts of electricity generated via solar and wind power plants. Moreover, by 2040, Egypt plans to produce 5.8 million tons taking advantage of 72,000 megawatts of electricity provided by solar and wind power plants. This major green initiative is in line with President Abdel Fatah al-Sisi's declaration during COP 27, held in Sharm El Sheikh last November. The first phase of Egypt's green hydrogen plant has already been launched collaborating with Norway's Scatec and is based in Ain Sokhna, already boasting a capacity of 100 megawatts.