Smartenergy Group AG, a Swiss investment company, is joining forces with the Egyptian government to explore the potential for a green hydrogen production and distribution complex in Egypt. This project, which aims to establish a 1-GW facility, follows a Memorandum of Understanding (MoU) with various Egyptian authorities including the Sovereign Fund of Egypt and the Suez Canal Economic Zone.

The collaboration marks a step forward in conducting feasibility and engineering studies for this initiative. The project’s goal is to produce 150,000 tonnes of green hydrogen each year. This hydrogen will be transformed into 830,000 tonnes of e-ammonia, intended for fertilizer production and as a clean fuel for ships. It leverages Egypt’s rich solar and wind resources, expecting to deploy 2.6 GW of power generation from these renewable sources.

Highlighting Egypt’s strategic importance for green hydrogen and its derivatives, such as e-ammonia, Smartenergy sees this venture as an opportunity for significant expansion in Egypt with an initial investment of one billion dollars. Despite not making an official statement, inside sources suggest advanced negotiations for establishing a hydrogen production facility valued at $1 billion.

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