UAE firm Alcazar Energy has signed on Thursday a preliminary agreement to build an industrial facility for the production of green hydrogen in Egypt.
The project will be built over 37,000 square metres in Ain El-Sokhna to produce up to around 230,000 tons of green hydrogen per year, with 175,000 tons per year in the first stage.
The memorandum was signed by Daniel Calderon, co-founder and CEO of Alcazar Energy; Waleid Gamal El-Dein, chairman of the General Authority of the Suez Canal Economic Zone (SCZone); Sabah Mashali, chairperson of Egyptian Electricity Transmission Company (EETC); Mohammed El Khayat, chairman of the New and Renewable Energy Authority (NREA); and Abdallah El-Ebiary, head of the Investment Sector at the Sovereign Fund of Egypt (TSFE).
The deal took place in the presence of Egyptian Prime Minister Moustafa Madbouly, Minister of Electricity Mohamed Shaker, and Minister of Planning Hala al-Saeed.
