The agreement marked another addition to ACWA’s green hydrogen portfolio. (Source: Shutterstock)
Saudi Arabia-based ACWA Power said Dec. 20 it signed a deal with Egypt to develop a green hydrogen project in Egypt as part of a $4 billion investment.
The framework agreement, which followed a memorandum of understanding signed in 2022, lays out plans to develop a green ammonia project with a capacity of 600,000 tonnes per year, ACWA said in a news release. Hydrogen for the project will be produced using wind and solar energy. Plans are to work on a larger green hydrogen project in Egypt with a potential capacity of up to 2 million tonnes per year, the company said.
“Egypt is well-positioned to become one of the world’s top producers of green hydrogen,” ACWA Power CEO Marco Arcelli said in the release.
Partners include the Sovereign Fund of Egypt, Suez Canal Economic Zone, Egyptian Electricity Transmission Co. and the New and Renewable Energy Authority.
The agreement marked another addition to ACWA’s green hydrogen portfolio. The power and water desalination company is also developing the 1.2 million tonnes-per-year NEOM green hydrogen project with partners Air Products and NEOM in Saudi Arabia, the Garuda Hidrogen Hijau project in Indonesia and a green hydrogen project in Uzbekistan.
Recommended Reading
SM Energy Marries Wildcatting and Analytics in the Oil Patch
2025-04-01 - As E&P SM Energy explores in Texas and Utah, Herb Vogel’s approach is far from a Hail Mary.
US Oil Rig Count Rises to Highest Since June
2025-04-04 - Baker Hughes said oil rigs rose by five to 489 this week, their highest since June, while gas rigs fell by seven, the most in a week since May 2023, to 96, their lowest since September.
EOG Secures Award to Explore Abu Dhabi for Unconventional Oil
2025-05-16 - U.S. shale giant EOG Resources will evaluate 900,000 acres in a hydrocarbon-rich basin in Abu Dhabi under a new concession agreement with ADNOC.
E&P Highlights: April 28, 2025
2025-04-28 - Here’s a roundup of the latest E&P headlines, including field redevelopment in Iraq and an estimate of gas resources in Namibia.
NextEra: US Power Demand Will Call for Extra 71 Bcf/d Equivalent
2025-04-29 - NextEra Energy expects that of the total 450 GW of new electricity demand in the coming few years, 75 GW will be gas-fired—or some 12 Bcf/d. But turbines and skilled labor are needed.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.