Last April, Hassan Allam Utilities signed an agreement with a UAE-government-owned renewable energy company called Masdar to develop 4 GW-capacity green hydrogen plants in Egypt by 2030. It’s worth noting that memos of understanding were signed with entities including the General Authority for Suez Canal Economic Zone, the New and Renewable Energy Authority, the Egyptian Electricity Transmission Company, and the Sovereign Fund of Egypt. So, how will this move Egypt a step forward in the power sector?
The Cooperation With Masdar
In the Suez Canal Economic Zone, overlooking the Mediterranean coast of Egypt, Hassan Allam Utilities and Masdar establish a strategic platform that aspires to take an entrepreneurial role in the development of green hydrogen production plants, targeting an electrolyzer capacity of 4 gigawatts (GW) by 2030, and generating up to 480,000 tons of green hydrogen per year.
The Effect of the Agreement on Egypt
The agreements reinforce the strategic partnership between UAE and Egypt in the sector of renewable energy and green hydrogen, where Egypt prepares to host the United Nations Climate Change Conference COP27, which will be conducted in Sharm El-Sheikh next November (2022). While COP28 will be hosted in Dubai in 2023. These crucial events boost the active role of the two countries in climate action and carbon emissions reduction
El Reef El Masri
Hassan Allam Holding is not only devoted to providing clean energy that keeps our environment safe but also seeks greener land. A new infrastructure project is on its way, El Reef El Masri, where Hassan Allam will implement water and irrigation infrastructure works for more than 12,000 acres in addition to the construction of 100 km of roads and pipe networks within the same distance.
This project is one of the projects that aims to increase the area of reclaimed lands as well as rationalize water consumption, in line with the national development strategy, Vision 2030. It is part of the South Valley Development that comes among the government’s most important top priorities.