Egypt Continues Green Hydrogen/Ammonia Drive As India’s ReNew Power Inks $8bn MoU – EQ Mag Pro
India’s ReNew Power is the latest international firm to sign an MoU with Egypt to develop green hydrogen/ammonia. This takes the value of similar MoUs to over $30bn according to MEES calculations, requiring almost 20GW of new renewables capacity. With Cairo set to host Cop 27 in November, expect a massive push to secure finance.
ReNew Power, India’s largest renewables firm, with 5GW of operating capacity and a further 10GW project pipeline, is the latest firm to ink an MoU with Cairo for green hydrogen and ammonia.
And it’s a biggie. ReNew’s project envisages total investment of $7.9bn to build a plant that will produce 1.1mn t/y of green ammonia from 220,000 t/y of green hydrogen, according to Yehia Zaki, chairman of the Suez Canal’s Economic Zone (SCZone).