Acwa Power Signs an MoU to Spearhead a Significant Green Hydrogen Project

Saudi Arabia's Acwa Power has taken a significant step in the green hydrogen sector by signing an agreement on December 20 to develop a project worth over $4 billion in Egypt. This development follows a Memorandum of Understanding signed last December, outlining the first phase of Egypt's green hydrogen project. This phase aims to produce 600,000 tonnes per year of green ammonia, scaling up to a potential second phase with a capacity of 2 million tonnes per year.

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Marco Arcelli, CEO of Acwa Power, expressed pride in leading the green hydrogen market and bringing their expertise to Egypt. He highlighted the potential of green hydrogen, especially its anticipated demand in Europe and globally. Acwa Power's commitment to Egypt's energy transition is evident, as the country is poised to become a leading green hydrogen producer.

With this latest signing, Acwa Power's renewable energy projects in Egypt, including those in operation, under construction, and in advanced development, have increased to five, boasting a total power generation capacity of 1.4 GW.

The company is not just focusing on Egypt but expanding its green hydrogen portfolio across the Middle East and beyond. Acwa Power is involved in the NEOM Green Hydrogen Project in Saudi Arabia, a joint venture aiming to establish the world's first utility-scale green hydrogen plant. Upon completion, this project will produce 1.2 million tonnes of green ammonia annually.

Furthermore, Acwa Power recently initiated its second green hydrogen project in Uzbekistan, with the first phase expected to produce 3,000 tonnes of green hydrogen and the second phase 500,000 tonnes of green ammonia annually.

At the COP28 Summit, Acwa Power further extended its global footprint by signing agreements for green hydrogen projects in Jordan and Indonesia, showcasing its commitment to driving the energy transition globally.

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According to the article by Procurement Resource, Acwa Power, a Saudi Arabian energy firm, signed a deal to develop a $4 billion green hydrogen project in Egypt, aimed at producing 600,000 tonnes of green ammonia annually, with potential expansion. This adds to Acwa Power's global portfolio, including projects in Saudi Arabia, Uzbekistan, Jordan, and Indonesia, reinforcing its position in the burgeoning green hydrogen market and supporting global energy transition efforts.