According to a statement by Egypt’s Minister of Petroleum and Mineral Resources, Tarek El-Molla, this project is the first of its kind in Egypt and the Middle East and will “contribute to placing Egypt on the global map of nations that produce green fuel for ships.”
The project includes the construction of renewable energy stations with capacities of 40 MW for solar power and 120 MW for wind power. What’s more, the joint development agreement will involve the development of a 60 MW green hydrogen analyzer as well as a seawater desalination plant and a green methanol production and storage station.
Scatec Chairman, Terje Pilskog, highlighted that the MoU reflects the renewable energy company’s commitment towards providing Egypt with sustainable, high-quality green fuel while noting that the agreement will support Egypt as a hub to supply green products to global shipping lines.
The green methanol production project falls in line with Egypt’s National Climate Strategy 2050 – a strategy outlining Egypt’s objectives to reduce carbon emissions while promoting the use of renewable energy sources and exploring alternate forms of energy, such as green hydrogen.
