The Egyptian government is committed to accelerating renewable energy projects in the country. Egypt plans to produce around 10,000MW of solar and other renewable electricity in 2023.
The government expects an increase in renewable energy capacity as many energy projects are completed and commissioned in the coming year. The Egyptian government's goal is to increase the share of clean and green energy in the North African country's energy mix. 10GW!
Attracted by Egypt's policy, a subsidiary of Australian mining company Fortescue Metals Group recently announced that it will build a green hydrogen plant in Egypt that could generate 9.2GW of solar and wind power.
Green energy company Fortescue Future Industries (FFI) has signed a memorandum of understanding to conduct green hydrogen research in Egypt. The proposed project includes the production of key power-generating equipment needed for solar energy at local factories, such as a module production plant, FFI said.
The news comes after independent power producer Globeleq signed a memorandum of understanding last month to develop a green hydrogen hub in Egypt. The center has 3.6GW of electrolyzers as well as 9GW of solar photovoltaic and wind power.
In addition, Norwegian renewable energy company Scatec signed an agreement earlier this year to develop a green hydrogen and ammonia plant in Egypt.
The FFI last year disclosed a partnership with Australian energy giant AGL Energy to explore the potential to repurpose Australia's traditional coal assets into renewable-powered green hydrogen plants.
