TOTALEren has joined the growing queue of energy companies looking to play in the green hydrogen market in Egypt.
The French firm, a subsidiary of TOTALEnergies, has teamed up with portfolio manager Enara Capital to ink agreements with the General Authority of the Suez Canal Economic Zone (SCZone), the Sovereign Wealth Fund of Egypt (TSFE), the Egyptian Electricity Transmission Company (EETC) and the New and Renewable Energy Authority (NREA).
The partners will conduct preliminary studies for a green hydrogen project in the Gulf of Suez, capable of producing 30,000Tonnes of green hydrogen per year. The capacity is much lower than those negotiated by other companies, especially EDF Renouvelables, another French energy company, aiming to produce 350,000Tonnes per year; the UAE based Masdar is looking to deliver 480,000Tonnes per year by 2030 and Amea Power, another UAE firm, wants to install a green hydrogen project with capacity of 240,000 tonnes per year by 2026 and ramp it up to 390,000Tonnes per year in the second phase, all in the Suez Canal economic zone.
In any case, TOTALEren hopes to grow its capacity to 1.5Million tonnes per year according to SCZone. “The Egyptian state is working diligently to support the transformation to a green economy based on clean energy, especially by providing facilities and incentives to attract green investments and exploit green financing opportunities,” according to a statement by the authorities.
The long list of companies who have signaled an interest in producing green hydrogen in Egypt includes Scatec, the Norwegian firm which is also Africa’s biggest renewable energy developer. Scatec is working in concert with h Orascom Construction and Fertiglobe.
