According to Tuesday’s statement from Egypt’s electricity minister, Mohamed Shaker, eight framework agreements have been inked for the construction of low-carbon hydrogen projects. Among the businesses with which the agreements were made were AMEA Power, Alfanar, TotalEnergies, and Fortescue Future Industries (FFI).
“Today, we signed eight framework agreements not memoranda of understanding. This is even bigger than an MOU,” Shaker said on the sidelines of the COP27 summit in Egypt.
Egypt, the host of the COP27 UN Climate Change Conference, has been trying to position itself as a regional hub for hydrogen production. The country has signed a number of MOUs in the past few months including for an $8 billion green hydrogen factory in the Suez Canal Economic Zone and a $3.5 billion green hydrogen project by Saudi Arabia’s Alfanar.
Details such as launch dates and financial value of the deals have not been disclosed but state news agency MENA said on Tuesday that Egypt had signed renewable energy deals worth $83 billion.
