Egypt and France have announced a joint venture to develop, finance, and operate a €7 billion green hydrogen facility in Ras Shokair on Egypt’s Gulf of Suez coast. The project involves collaboration between Egypt's state-run Red Sea Ports Authority, the New & Renewable Energy Authority, and the Green Fuel Alliance, consisting of France’s EDF Renewables and the Egyptian-Emirati company Zero Waste. The initiative, signed during French President Emmanuel Macron's visit to Egypt, aims to produce 1 million tonnes of green ammonia per year in three phases, starting in 2029. This production will support the provision of clean fuel for ship fuelling and global exports. Notably, the project will not receive government funding, as EDF Renewables and Zero Waste plan to invest €2 billion to finance the initial phase, which targets an annual production of 300,000 tonnes of green ammonia. The project will also include the establishment of a seawater desalination plant to ensure the water supply for all phases of the facility at Ras Shokair, with a total of 368 square kilometres of land allocated for the project's development. This significant green hydrogen initiative represents a major step towards sustainable development and clean energy production in the region.