Egypt teaming with ACWA Power on $4B green hydrogen project near the Suez Canal

In Egypt, the Prime Minister held a meeting on Wednesday at the government headquarters in the New Administrative Capital to discuss the timeline for a new green hydrogen project in the Suez Canal Economic Zone (SCZone). The project will be carried out by the Saudi company “ACWA Power” and will require investments exceeding $4 billion. 

The PM opened the meeting by saying that the topic of discussion is the timeline for the Saudi company “ACWA Power” to implement one of the biggest green hydrogen projects in the SCZone. The project witnessed the signing of a memorandum of understanding in December 2022 between the Saudi company, which specializes in energy transformation, and the Egyptian government.