October 1, 2022
  • October 1, 2022

Britain’s Globeleq advances Suez Canal green hydrogen project

By on August 30, 2022 0

It said it has signed agreements with New and Renewable Energy Authority (NREA), General Authority of Suez Canal Economic Zone (SCZONE), Egyptian Sovereign Fund for Investment and Development (TSFE) and the Egyptian Electricity Transmission Company (EETC). ), to jointly develop the large-scale green hydrogen facility.

“Globeleq, as lead developer and investor, will develop, finance, build, own and operate the green hydrogen project,” he said. “It will be developed in three phases, totaling 3.6 GW of electrolysers and around 9 GW of solar photovoltaic and wind power generation.”

Globeleq is a British investor, 70% owned by British International Investment (BII) and 30% by Norfund, respectively the British and Norwegian development finance institutions. He says his goal in Egypt is to support its renewable energy strategy by developing new solar PV, wind, battery energy storage, seawater desalination and green hydrogen projects.

“The first phase will involve a pilot project using a 100 MW electrolyser and will initially focus on ammonia green manures, while considering other medium and long-term green hydrogen end uses, including fuels green,” he said. “Globeleq intends to enter into long-term off-take agreements with leading and creditworthy Egyptian and international companies, while supporting their decarbonization plans.”

BII said Globeleq was the largest private developer, owner and operator of independent power plants in sub-Saharan Africa, with generation capacity of more than 1,400 MW at eight sites in six countries.

“Bold and swift collective action is needed to put the world on a sustainable path. Egypt is a key country for Globeleq, and we are delighted to support the Egyptian government’s ambitious green agenda and contribute to the fight against climate change,” said Mike Scholey, CEO of Globeleq.

Earlier this year, Egypt held a workshop with Maersk officials in Cairo, to discuss bilateral cooperation in green fuel industries, and in particular the implementation of green methanol and fuel production projects. green ammonia.

“The new agreement with Globeleq is a continuation of our commitment to implement Egypt’s vision in transforming to a green economy,” said Waleid Gamal Eldien, Chairman of SCZONE. “The Egyptian government has ambitious energy transition plans, in addition to hosting COP27 [in November]and active steps are being taken to make SCZONE a major hub for green hydrogen.

Globeleq participates in the Nubian Suns projects, which include 13 solar power plants located in the Benban solar park, near Kom Ombo, Egypt. BII said when completed, Benban would be the largest solar power facility in the world, with a capacity of up to 1.65 GW and 32 solar power plants.