Sharm El Sheikh – During the United Nations Climate Change Conference, COP27, the government of Egypt signed eight framework agreements to set up green fuel production projects in the Suez Canal Economic Zone in the Arab country. The climate summit is taking place in the city of Sharm El Sheikh, Egypt, from November 6 to 18.
The agreements were signed on the sidelines of the international event by the government of Egypt, the Sovereign Fund of Egypt, the New and Renewable Energy Authority, the Egyptian Electricity Transmission, and the Suez Canal Economic Zone with large firms that stand out as global leaders in clean and renewable energy.
The agreements will be effectively converted into contracts and come into force after the completion of legal, technical and financial feasibility studies, as agreed by all parties. The projects are concentrated around Ain Sokhna and the Suez Canal Economic Zone.
Electricity and Renewable Energy minister Mohamed Shaker attended the signing event. The project is expected to have a capacity to produce around 1,000,000 tonnes of green ammonia a year for domestic use and export. The event featured Petroleum and Mineral Resources minister Tarek El-Molla, Planning and Economic Development minister Hala Al-Saeed, and International Cooperation minister Rania Al-Mashat, as well as representatives from the European Bank for Reconstruction and Development.
Green ammonia and green hydrogen production agreements were signed with companies such as the United Arab Emirates’ AMEA Power, Egypt’s Zero Waste, France’s EDF Renewables, France’s Total, Egypt’s Inara Capital, India’s ReNew Power, Egypt’s Elsewedy, Australia’s FFI Fortescue Future Industries, and Saudi Arabia’s Al Fanar.
Translated by Georgette Merkhan & Guilherme Miranda
