{"id":628308,"date":"2024-07-02T00:00:00","date_gmt":"2024-07-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/07\/02\/green-hydrogen-solar-ethane-and-wind-project-investment-news-ramps-up\/"},"modified":"2024-07-02T00:00:00","modified_gmt":"2024-07-02T00:00:00","slug":"green-hydrogen-solar-ethane-and-wind-project-investment-news-ramps-up","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/07\/02\/green-hydrogen-solar-ethane-and-wind-project-investment-news-ramps-up\/","title":{"rendered":"Green hydrogen, solar, ethane and wind project investment news ramps up"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Energy investment news has been keeping up the pace since the close of the Egypt-EU<\/strong><strong> Investment Conference<\/strong>, with new details and even projects to emerge from the conference and other completely unrelated announcements from what is undoubtedly the main focus of investment in the country at present.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong><strong>More on the recently announced BP-Infinity-Masdar-Hassan Allam green hydrogen<\/strong><strong> venture: <\/strong>Under the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/4678b944-fc3c-4ae9-82b0-98d0ee09c708\" style=\"\" rel=\"noopener\">USD 15 bn green hydrogen project<\/a> announced at the Egypt-EU Investment Conference that wrapped on Sunday, our friends at renewables firm Infinity Power, Hassan Allam, and the UAE\u2019s Masdar, signed a joint development agreement with BP to let it into its existing consortium to explore establishing a multi-phase green hydrogen project in Egypt, according to a joint <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/126.pdf\" style=\"\" rel=\"noopener\">s<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/126.pdf\" style=\"\" rel=\"noopener\">tatement (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">What we know now:<\/strong><span style=\"background-color: transparent;\"> The four big names will combine their green hydrogen projects in the country, before exploring \u201cthe potential for a single large-scale, multi-phase project for the development of green hydrogen and its derivatives, with a focus on exports,\u201d the statement reads. Consortium newcomer BP has been tapped to be the main developer and operator of the project.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next: <\/strong>The consortium has a freshly inked framework agreement with the government giving them the greenlight to begin technical and commercial feasibility studies for the project.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Sidpec-led consortium confirms project to import ethane: <\/strong>Sidi Kerir Petrochemicals (Sidpec), along with Egyptian Petrochemicals Holding, Egyptian Ethylene and Derivatives, Egyptian Natural Gas Company, and Gama Construction Company, confirmed that they will set up a company with a market cap of USD 663 mn to import liquified ethane gas this year after getting approval from the wider consortium of chemical, gas, and construction firms involved in the project, the company said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/68.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Plans to establish a company to facilitate ethane imports <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/32fbe8ad-e741-4025-b286-1d61f14a199f\/new-public-private-consortium-to-launch-usd-600-mn-to-import-ethane-gas\" style=\"\" rel=\"noopener\">emerged<\/a> in then-unconfirmed reports late last month after Sidpec was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/454b221a-69a5-4435-864e-86f3fc55f90e\/egyptian-government-pledges-to-end-power-cuts-by-third-week-of-july-with-usd-1.2-bn-set-aside-for-energy-imports-and-other-initiatives\" style=\"\" rel=\"noopener\">forced to shut down operations<\/a> due to a \u201clack of feed gasses,\u201d a result of high temperatures, increasing electricity consumption prices, and cuts to the regional gas supply. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, another fertilizer factory goe<\/strong><strong>s offline: <\/strong>Egypt Kuwait Holding\u2019s AlexFert has once again suspended operations after it stopped receiving gas supplies due increased consumption triggered by higher temperatures, the company said yesterday in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/79.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/egyptian-consortium-import-us-shale-gas-tackle-short-gas-supplies-2024-07-01\/\" style=\"\" rel=\"noopener\">Reuters<\/a><\/strong><strong> also picked up the story.<\/strong><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- ACWA Power gets the green light to operate its <\/strong><strong>Kom Ombo<\/strong><strong> solar plant: <\/strong>Saudi Arabia\u2019s ACWA Power has received a commercial operation certificate for its 200-MW Kom Ombo <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1ebf21fb-3f6b-40ff-8ee9-c3971b02df93\" style=\"\" rel=\"noopener\">solar plant<\/a> \u2014 Egypt\u2019s largest <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1ebf21fb-3f6b-40ff-8ee9-c3971b02df93\" style=\"\" rel=\"noopener\">privately owned<\/a> solar plant \u2014 it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/04_Sj9CPykssy0xPLMnMz0vMAfIjo8ziTR3NDIw8LAz83d2MXA0C3SydAl1c3Q0NvE30w1EVGAQHmAIVBPga-xgEGbgbmOlHEaPfAAdwNCCsPwqvEndzdAVYnAhWgMcNXvpR6Tn5SZDwyCgpKbBSNVA1KElMSSwvzVEFujE5P7cgMa8yuDI3KR-oyMjAwkg_ODVPvyA3NMIgMyA3XNdREQC5cNBA\/dz\/d5\/L0lDU0NTQ2xDbENRb0tVUW9LVVFvZ3BSQ2lDbEVpUSEhL1lGVUVBQUFJSUVNQ0lFQUtJS0dJR0lPQkpCSk9CRk5GTk9GRERMRExISUVFRFBQQXZBblBNSW9FTUEhIS80SkNpaksyTVhIRUlKU1pDa21vcHlGTk5Relc3V1d6bXA1cmRyTFlMVVVxcU1VQSEvWjdfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFEUTYvWjZfNUE2MDJIODBPMEhUQzA2MFNHNlVUODFESTMvdmlldy9ub3JtYWwvQU5OT1VOQ0VNRU5UX05VTUJFUi84MTEzNi9jb21wYW55U3ltYm9sLzIwODIvaHR0cDolMCUwdGFkYXd1bCUwL2FubkNhdC8xL2FuSWQvZW4!\/\" style=\"\" rel=\"noopener\">Tadawul disclosure<\/a>. Acwa has a 25-year power purchase agreement with the Egyptian Electricity Transmission Company and expects the financial impacts in the third quarter of this year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Refresher: <\/strong>Once online, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/29b4d631-254c-4e80-9f2c-f01ebf194da5\" style=\"\" rel=\"noopener\">the solar farm<\/a>, which will span 4.8 sq km and contain over 387k bifacial solar panels, will be connected to the country\u2019s electricity grid and offset an estimated 280k tons of carbon emissions annually by powering 130k households.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- <\/strong><strong>Taqa Arabia is looking<\/strong><strong> to produce 150 MW of solar energy in Egypt: <\/strong>Qalaa Holdings\u2019 Taqa Arabia is negotiating with clients in the tourism, industrial and agricultural sectors about proposed projects to produce 150 MW of solar energy in Egypt, Chairman Khaled Abu Bakr told <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/ar\/%D8%A7%D9%84%D8%A3%D8%B9%D9%85%D8%A7%D9%84\/%D8%B7%D8%A7%D9%82%D8%A9\/150-b54teteh\" style=\"\" rel=\"noopener\">Zawya<\/a>. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- Infinity-Hassan Allam-Masdar consortium pushes back USD 10 bn Sohag wind farm<\/strong><strong> construction date: <\/strong>Construction will begin on Infinity Power, Hassan Allam Utilities, and Masdar\u2019s 10 GW wind project in March 2026, Infinity Power Mohamed chairman Mansour told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-27\/egypt-s-10-billion-wind-farm-is-poised-to-break-ground-in-2026?utm_medium=social&amp;utm_campaign=socialflow-organic&amp;utm_content=climate&amp;cmpid=socialflow-twitter-climate&amp;utm_source=twitter\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. Construction was initially set for this year but fell behind due to land procurement issues in West Sohag. The project will begin electricity generation in 2032, he added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Infinity is also planning expansion in Cameroon:<\/strong> To help reach Infinity\u2019s goal of upping its capacity from 1.3 GW to 10 GW by 2030, the company is planning to raise USD 2 bn in debt and equity to develop 4 GW of small scale projects in West Cameroon, Mansour said in the interview.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Agreements and MoUs totalling EUR 67.7 bn inked at the recent Egypt-EU Investment Conference mostly centered around green hydrogen<\/p>\n","protected":false},"author":1,"featured_media":628309,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","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":[7207],"tags":[1042,6798,196,1668,3604,93,72,6815,7192,99,254,890,334,8648,613,151,706,615],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-628308","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-acwa-power","tag-alexandria-fertilizers","tag-bp","tag-egypt-kuwait-holding","tag-egyptian-natural-gas-holding-company","tag-energy","tag-enterpriseam","tag-ethydco","tag-eu","tag-fertilizers","tag-green-hydrogen","tag-hassan-allam-holding","tag-infinity","tag-masdar","tag-qalaa-holdings","tag-renewables","tag-sidi-kerir-petrochemicals","tag-taqa-arabia","wpautop","entry"],"acf":{"mongo_id":"26c55843-5b01-4442-861e-ad6c09d8f942","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/2833.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Green hydrogen, solar, ethane and wind power investment announcements follow Egypt-EU Investment Conference","related_issue":[628303],"teaser":"Agreements and MoUs totalling EUR 67.7 bn inked at the recent Egypt-EU Investment Conference mostly centered around green hydrogen","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.4c26980e-7867-407a-98f3-2bd7bd77e5d6.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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