Egypt's €7 Billion Green Hydrogen Project by the Gulf of Suez: A Step Towards Clean Energy Revolution
Key Ideas
  • Egypt signed a €7 billion agreement with EDF and Zero Waste to develop a green hydrogen project near the Gulf of Suez, aiming to produce over one million tons of green ammonia annually for shipping fuel.
  • Dubai's energy demand grew by 5.4% in 2024, reaching 59,594 GWh, with clean energy contributing 20% of the total capacity of 17.179 GW.
  • DEWA reported a 3.4% growth in peak demand from 2023, with progress on the 1,800 MW Mohammad Bin Rashid Al Maktoum Solar Park's sixth phase, targeting clean energy for 540,000 residences.
  • Various ventures like Power Purchase Agreements, new data center projects, and investment platforms in the U.S. and Europe highlight the ongoing global shift towards decarbonization technologies and sustainability.
Egypt made a significant move in the clean energy sector by signing a €7 billion agreement with France's EDF and the UAE-based Zero Waste to develop a green hydrogen project near the Gulf of Suez. The project's main focus is to produce over one million tons of green ammonia annually, primarily targeting shipping fuel for vessels using the Suez Canal. The initiative includes the construction of wind and solar power facilities covering a vast area of 420 sq km. Additionally, a 400 m-long shipping dock will be built for the Red Sea Ports Authority alongside a seawater desalination unit to support project operations. In Dubai, the electricity and water authority reported a 5.4% increase in energy demand in 2024, reaching 59,594 GWh, with clean energy contributing 20% of the total installed generation capacity of 17.179 GW. Progress on the sixth phase of the Mohammad Bin Rashid Al Maktoum Solar Park was reviewed, targeting clean energy supply for around 540,000 residences. On a global scale, EDF Renewables NA, Masdar, Soluna Holdings, Arab Energy Fund, Hartree Partners, and Lulu Retail have been actively involved in various clean energy projects. These ventures include a power purchase agreement supplying renewable energy for a data center, investment platforms focusing on decarbonization technologies, and the completion of a rooftop solar project in Saudi Arabia. These initiatives reflect the increasing shift towards sustainable and cleaner energy practices globally, showcasing a positive trend in the renewable energy and decarbonization sector.
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