India participates in $8 billion project in Egypt

Egypt and India have signed a memorandum of understanding to establish a green hydrogen plant with an investment of $8 billion and a capacity of 220,000 tons per year in the economic zone of the Egyptian Suez Canal.

An Egyptian Cabinet statement today, Wednesday, said Indian company Renew Power Private Limited will build a green hydrogen plant with an investment of $8 billion and a production capacity of 20,000 tons per year, a pace that can be increased. up to 220,000 tons per year, relying on renewable energy sources.

The statement added that the project will be implemented in phases, starting with a pilot phase to produce 20,000 tons of green hydrogen per year, with an expansion in the first phase to produce 200,000 tons of green hydrogen per year.

Egyptian Minister of Electricity, Energy and Renewable Energy Mohamed Shaker stated that “renewable energy facilities will be determined by the New and Renewable Energy Authority in accordance with the rules, procedures and regulations in force, and the amount of energy produced will be transmitted through the national electricity grid managed by Egyptian Electricity Transmission Company.

Source: RT

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