Saudi firm Alfanar to build green hydrogen plant in Egypt
Saudi Arabia is helping Egypt boost its renewable energy capabilities.
A Saudi company has signed an agreement to build a green hydrogen plant in Egypt.
The Riyadh-based electrical construction firm Alfanar signed the memorandum of understanding with Egypt’s General Authority of the Suez Canal Economic Zone, Sovereign Fund, Electricity Transmission Company, and New and Renewable Energy Authority. The memo stipulates that the entities will develop a green hydrogen facility in Ain Sokhna, which is south of Suez. The $3.5 billion project aims to produce 500,000 tons of green ammonia from 100,000 tons of green hydrogen per year, Alfanar said in a press release Monday.
