{"id":82750,"date":"2024-03-04T00:00:00","date_gmt":"2024-03-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/03\/04\/south-koreas-sk-ecoplant-chinas-cscec-to-cooperate-on-usd-1-9-bn-renewable-energy-project-in-egypt\/"},"modified":"2024-03-04T00:00:00","modified_gmt":"2024-03-04T00:00:00","slug":"south-koreas-sk-ecoplant-chinas-cscec-to-cooperate-on-usd-1-9-bn-renewable-energy-project-in-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/03\/04\/south-koreas-sk-ecoplant-chinas-cscec-to-cooperate-on-usd-1-9-bn-renewable-energy-project-in-egypt\/","title":{"rendered":"South Korea\u2019s SK Ecoplant + China\u2019s CSCEC to cooperate on USD 1.9 bn renewable energy project in Egypt"},"content":{"rendered":"

We have more details on one of Egypt's new green hydrogen agreements: <\/strong>South Korean construction company SK ecoplant<\/a> will build a KRW 2.6 tn (c. USD 2 bn) integrated renewables, green hydrogen, and ammonia facility in Egypt\u2019s Suez Canal Economic Zone (SCZone), according to a statement<\/a> released on Thursday. The giant plant will be completed in partnership with the China State Construction Engineering Corporation (CSCEC)<\/a> and will be slated for commercial operations by late 2029. SK signed the agreement with Egypt last week<\/a>.<\/p>\n

The breakdown: <\/strong>The facility will produce 778 MW of renewable energy \u2014 comprising 500 MW from solar energy and 278 MW from onshore wind power \u2014 used to power a 250 MW green hydrogen plant generating 50k tons of the green fuel annually. The plant will also convert the produced output into 250k tons of green ammonia for export.<\/p>\n

What\u2019s next?<\/strong> The Madbouly government will soon allocate a plot of land<\/a> for the project, after which the two companies will be able to conduct their feasibility studies and decide on the exact size for the facility and timeline of the project.<\/p>\n

We knew this was coming:<\/strong> CSEC and SK ecoplant have been eyeing Egypt<\/a> as a potential hub for green hydrogen projects since early last year after inking an MoU<\/a> to \u201cdominate the global renewable energy market\u201d and work together on global renewable energy projects in Asia and Africa.<\/p>\n

IN OTHER EGYPT NEWS- Egypt gets another EUR 165 mn from EIB to <\/strong>decarbonize its industry: <\/strong>Egypt\u2019s cabinet has approved EUR 135 mn in soft financing from the European Investment Bank (EIB) and a EUR 30 mn grant from the EU to help finance its Sustainable Green Industry project<\/a>, according to a cabinet statement<\/a> on Thursday. This initiative aims to support Egypt's green industry transition by reducing industrial pollution, decarbonizing the industrial sector, and promoting sustainable practices to enhance energy efficiency. The loan was first announced<\/a> in January, and is amongst a wave<\/a> of recent green investments from the EIB aimed at supporting the growth of the country\u2019s green sector.<\/p>\n","protected":false},"excerpt":{"rendered":"

SK ecoplant will build a c. USD 2 bn integrated renewables, green hydrogen, and ammonia facility in Egypt\u2019s Suez Canal Economic Zone<\/p>\n","protected":false},"author":1,"featured_media":82751,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[269],"tags":[40,11,39,88],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-82750","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-green-hydrogen","tag-egypt","tag-enterpriseclimate","tag-green-hydrogen","tag-renewables","wpautop","entry"],"acf":{"mongo_id":"a14042ea-f038-4a70-acbb-1b613a53ac40","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/135.jpg","photo_position":"above","homepage_title":"","full_issue_title":"South Korea\u2019s SK Ecoplant + China\u2019s CSCEC to cooperate on USD 1.9 bn renewable energy project in Egypt","related_issue":[82745],"teaser":"SK ecoplant will build a c. 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