Masdar, Hassan Allam Utilities plan to develop 4 GW green hydrogen hubs on the Red Sea and the Mediterranean coasts

Masdar and Hassan Allam Utilities have signed two memorandums of understanding (MoUs) to collaborate on the development of green hydrogen production plants in the Suez Canal Economic Zone (SCZone) and along the Mediterranean coast in Egypt.

The General Authority for the Suez Canal Economic Zone, the New and Renewable Energy Authority, the Egyptian Electricity Transmission Company, and the Egyptian Sovereign Fund of Egypt all signed MoUs. By 2030, the parties hope to have a 4 GW electrolyzer capacity and produce up to 480,000 tons of green hydrogen per year.