In signing a landmark memorandum of understanding (MoU) with TotalEnergies and Enara Capital, Egypt has taken the first steps to establish a new green ammonia project in the Suez Canal Economic Zone (SCZone), representing a major leap forward in the nation’s ambitions to switch to clean energy.
This state-of-the-art facility will be designed to produce 300,000 tons of ammonia per year in its first phase and is expected to reach 1.5 million tons annually, SCZone Chairman Yehia Zaki said. It will also be operated by the green hydrogen produced from clean and renewable energy, he added.
Zaki highlighted that the SCZone has made several agreements with global clean energy giants to construct industrial complexes for green hydrogen production to coincide with Egypt’s hosting of COP 27.
Commenting on the deal, Egyptian Prime Minister Mostafa Madbouly elaborated that Egypt is working hard to support the transition into a green economy depending on clean energy through facilitating and encouraging green investments as well as benefitting from green fund opportunities.
TotalEnergies and Enara Capital’s MoU with the General Authority of SCZone, Egypt Sovereign Fund, the Egyptian Electricity Transmission Company (EETC), and the New and Renewable Energy Authority (NREA) was signed in the presence of Madbouly.