India’s ReNew Power has signed an agreement with Egyptian government agencies and the Sovereign Fund of Egypt to establish a green-hydrogen manufacturing facility in Egypt. The agreement involves a total investment of up to $8 billion, according to Mint.
Located at the Suez Canal Economic Zone, the facility will have the capacity to produce 20,000 metric tons of green hydrogen a year through renewable-energy sources, which will later increase to 220,000 metric tons.
“We are pleased to partner with one of the largest renewable energy producers in India and in the world, Renew Power Pvt. Ltd., as this partnership reflects the interest of global developers specialized in investing in such projects by choosing Egypt as a destination for investment in this field, due to its strategic location and renewable energy resources that enable it to transform into a regional center for green energy,” said Ayman Soliman, CEO of the Sovereign Fund of Egypt.
ReNew
