Saudi’s Alfanar and SCZone launch $3.5 billion green hydrogen project in Egypt

[Corruptistan]

Tue 30 Aug 2022
By Staff Writer
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Saudi’s Alfanar and SCZone launch $3.5 billion green hydrogen project in Egypt​

This is in line with the Middle East Green Initiative launched by Crown Prince Mohammed Bin Salman and Alfanar’s trailblazing vision for the energy transition industry.

Image sourced from Zawya

Saudi Arabia’s Alfanar Global Development is set to launch a green hydrogen plant with the General Authority of the Suez Canal Economic Zone (SCZONE) as well as the Sovereign Fund of Egypt, the Egyptian Electricity Transmission Company (EETC) and the New and Renewable Energy Authority (NREA) to build a green hydrogen facility in Sokhna.
The estimated $3.5 billion project will be powered by renewable energy sources and produce 500,000 tons of green ammonia from 100,000 tons of green hydrogen annually.
This is in line with the Middle East Green Initiative launched by Crown Prince Mohammed Bin Salman and Alfanar’s trailblazing vision for the energy transition industry.

“We have enjoyed a long-standing relationship with Egypt and are thrilled to partner with such esteemed organisations of national importance on this program,” the group’s chairman Sabah Al-Mutlaq said.
“Through this agreement, we will be developing a project to produce green hydrogen and green ammonia,” he adds.
The Saudi-based Alfanar operates in international markets especially in Egypt through the energy transition and green fuel projects contributing 50MW at the Benban Solar Park. The electricity generated from this solar plant currently offsets around 57,000 tons of carbon dioxide emissions per year.

Alfanar was one of the first companies globally to operate a 50MW solar project in the Benban Solar Park in the Aswan region of Egypt.

With focus on localisation of technology for renewable energy and businesses across the digital solutions, energy, water, oil and gas sectors, Alfanar produces green aviation fuel from waste in the United Kingdom.
Mostafa Madbouly, Prime Minister of Egypt, Mohamed Shaker, Minister of Electricity and Renewable Energy, Hala Elsaid, Minister of Planning & Economic Development along with Saudi officials, Faisal A. Al-Yemni, Deputy Minister of Investment, and Mazeed Al-Hoishan, Saudi Consul to Egypt attended the signing.

https://www.arabianbusiness.com/latest-news/saudis-alfanar-and-sczone-launch-3-5-billion-green-hydrogen-project-in-egypt

It is worth noting that KSA has great ambition to be the leading green hydrogen power.

Saudi Arabia’s Plan to Rule the $700 Billion Hydrogen Market from a Marine Perspective​

Saudi Arabia’s Plan to Rule the $700 Billion Hydrogen Market from a Marine Perspective — Mr. Sustainability

Saudi Arabia is building a $5 billion plant called Helios to make green fuel for export and decrease the country’s dependence on petrodollars. All of the zero-carbon fuel it produces will be shipped to international buyers in the form of ammonia. The 4 gigawatt plant should be fully operational by 2

www.mr-sustainability.com

World’s Largest Green Hydrogen Project Unveiled in Saudi Arabia​

World’s Largest Green Hydrogen Project Unveiled in Saudi Arabia

Air Products, the world’s leading hydrogen producer, plans to power a huge green hydrogen plant using 4 gigawatts of Saudi renewable electricity.

www.greentechmedia.com

Saudi Arabia to start construction of $5 bln green hydrogen plant in Neom​

Saudi Arabia to start construction of $5 bln green hydrogen plant in Neom

Saudi Arabia will start construction of a green hydrogen plant as soon as this month as it pushes ahead with plans to export the fuel in about four

english.alarabiya.net

Great news!

 

[Corruptistan]

 

[Hydration]

Can someone highlight whats so special about Egypt for so many companies to pump green h2 projects there. Suez canal? Location? @The SC @Khan2727

 

[Corruptistan]

Can someone highlight whats so special about Egypt for so many companies to pump green h2 projects there. Suez canal? Location? @The SC @Khan2727

100 million people market. For KSA, Egypt is a neighbor, close historical ally and fellow Arab country. Thus easy for Saudi Arabian companies to operate in. Geography probably plays a role too as Egypt is at the crossroads of Africa and the Middle East.

Other than that I just think that KSA and Egypt are aligned when it comes to strategic projects.

 

[Hydration]

100 million people market. For KSA, Egypt is a neighbor, close historical ally and fellow Arab country. Thus easy for Saudi Arabian companies to operate in. Geography probably plays a role too as Egypt is at the crossroads of Africa and the Middle East.

Other than that I just think that KSA and Egypt are aligned when it comes to strategic projects.

With all due respect this is a fuel. Egypt has an overflow of energy this will only be exported abroad and even then Egypt and KSA already have an Electrcity bridge to support each other so that for example if KSA has a problem with its grid during summer Egypt can support and vice versa so the market point doesnt make sense to me. Although i have heard this will be used to refuel ships passing the suez and has other uses not mentioned

 

[Corruptistan]

With all due respect this is a fuel. Egypt has an overflow of energy this will only be exported abroad and even then Egypt and KSA already have an Electrcity bridge to support each other so that for example if KSA has a problem with its grid during summer Egypt can support and vice versa so the market point doesnt make sense to me. Although i have heard this will be used to refuel ships passing the suez and has other uses not mentioned

KSA has the most oil and gas in the world. It is the main exporter of electricity in the region too if I am not wrong. KSA is going all-in on green hydrogen (as I posted about) so it makes sense for Saudi Arabian companies to invest in the Egyptian market and other emerging markets in general. We see it in other countries too.

And this Saudi Arabian company has already invested in Egypt before successfully.

Alfanar was one of the first companies globally to operate a 50MW solar project in the Benban Solar Park in the Aswan region of Egypt. The electricity generated from this solar plant currently offsets around 57,000 tons of carbon dioxide emissions per year.

 

[Hydration]

KSA has the most oil and gas in the world. It is the main exporter of electricity in the region too if I am not wrong. KSA is going all-in on green hydrogen (as I posted about) so it makes sense for Saudi Arabian companies to invest in the Egyptian market and other emerging markets in general. We see it in other countries too.

And this Saudi Arabian company has already invested in Egypt before successfully.

Alfanar was one of the first companies globally to operate a 50MW solar project in the Benban Solar Park in the Aswan region of Egypt. The electricity generated from this solar plant currently offsets around 57,000 tons of carbon dioxide emissions per year.

yeah..... You completely ignored my point of Egypt is self suffecient. Green hydrogen requires electrcity made from renewable energy which the kingdom has close to zero % of its total electrcity production. This will only be exported abroad and maybe even saudi arabia can use it as well.

 

[Corruptistan]

yeah..... You completely ignored my point of Egypt is self suffecient. Green hydrogen requires electrcity made from renewable energy which the kingdom has close to zero % of its total electrcity production. This will only be exported abroad and maybe even saudi arabia can use it as well.

What has this to do with my post? A Saudi Arabian firm is investing in Egypt and you asked me why, I gave you a reply.

Also I suggest reading up on the massive investment on renewables that KSA have been signing in recent times and the existing ones.

As for overall electricity production, KSA is among the largest electricity producers in the world.

World's leading electricity producers 2021 | Statista

China is by far the largest electricity-generating country in the world, with over 8.5 petawatt-hours generated in 2021.

www.statista.com