Acwa Power begins work on $4bn green hydrogen project in Egypt  

Acwa Power

Saudi-listed Acwa Power is slated to start work on the first phase of Egypt’s $4 billion green hydrogen project.

The first phase of a green ammonia project will have a capacity of 600,000 tonnes per year powered by wind and solar plants, the renewables energy firm said. 

The project will be developed in collaboration with the Sovereign Fund of Egypt, the Suez Canal Economic Zone, the Egyptian Electricity Transmission Company and the New and Renewable Energy Authority.

“Egypt is well-positioned to become one of the world’s top producers of green hydrogen,” Acwa Power chief executive Marco Arcelli said.

The Saudi company has been developing significant renewable projects to provide Egypt with a reliable supply of clean and low-cost energy. 

This latest project brings the total number of its assets in Egypt to five, with a total power generation capacity of 1.4 GW. 

Acwa Power is rapidly expanding its green hydrogen portfolio with work underway on the Neom Green Hydrogen Project northwest of the kingdom. The mega project will produce 1.2 million tonnes of green ammonia per year.  

Last month, the company broke ground on its second green hydrogen project in Uzbekistan, which, on completion, will generate a total of 2.4 GW of wind energy and power the production of 500,000 tonnes of green ammonia per year.

Acwa Power signed new agreements for green hydrogen projects in Jordan and Indonesia during the recently-concluded Cop28 summit at the Expo City Dubai.