Fortescue Future Industries (FFI) has proposed a green hydrogen and ammonia production complex in Egypt powered by 9.2GW of wind and solar, according to Zawya.
Egypt’s President Abdel Fattah El-Sisi met with FFI chairman Andrew “Twiggy” Forrest over the weekend to discuss the development of green energy projects in the region.
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They reportedly also discussed localisation of electricity production from solar and wind resources such as solar panels and wind turbines.
The news follows an MoU signed last month between FFI, New and Renewable Energy Authority (NREA), The General Authority for Suez Canal Economic Zone (SCZONE), Egyptian Electricity Transmission Company (EETC) and The Sovereign Fund of Egypt for Investment and Development (TSFE).
“Egypt’s excellent wind and solar resources can generate the renewable energy required to produce large scale green electricity, green hydrogen and green ammonia,” Forrest said.
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Egypt expects to finalise proposals green hydrogen projects worth $10 billion by year end and estimates investments in green hydrogen projects will total $41.5 billion by 2030, and could double in the decade after.
The country intends to increase the supply of electricity generated from renewable sources to 20% by 2022 and 42% by 2035, with wind providing 14%, hydro power 2%, and solar 25% by 2035. The private sector is expected to deliver most of this capacity.
