ACWA Power has signed a framework agreement to develop the first phase of a green hydrogen project in Egypt.
The 600,000 tonnes-per-year of green ammonia plant will see an expected investment of $4bn, with the intention of scaling up to a second phase with a possible capacity of 2 million tonnes-per-year.
ACWA Power signed the agreement with the Sovereign Fund of Egypt (TSFE), the Suel Canal Economic Zone (SCZone), the Egyptian Electricity Transmission Company (EETC), and the New and Renewable Energy Authority (NREA).
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