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bp joins consortium for Egypt green hydrogen project

The agreement was signed on the sidelines of the Egypt-Eu investment conference. (Image source: bp)

bp has entered a Joint Development Agreement (JDA) to join a consortium comprising Masdar, Hassan Allam Utilities, and Infinity Power which will look at developing a multi-phase green hydrogen (gH2) project in Egypt

The partners will merge their respective gH2 projects in Egypt and consider the potential for a large-scale, multi-phase project focused on producing gH2 and its derivatives, primarily for export, with bp as the main developer and operator of the project

The newly-established consortium has signed a Framework Agreement (FWA) with the Egyptian government to begin studies to assess the project's technical and commercial feasibility, signed on the sidelines of the Egypt-EU Investment Conference.

Supporting Egypt's energy transition

"We are pleased that the signing coincides with our celebration of 60 years in Egypt, which clearly reflects our ongoing commitment to the country. Over the decades, we have been a key supplier of energy in Egypt, consistently working to meet its increasing energy demands while supporting its endeavours for a more sustainable energy future. The diverse experiences of partners in energy projects present a great opportunity for regional cooperation and accessing global markets, fundamentally supporting Egypt's energy transition plans." said Nader Zaki, bp's regional president for the Middle East and North Africa.

Mohammad Abdelqader El Ramahi, Masdar’s chief green hydrogen officer, said, “We welcome the addition of bp to the consortium, building on the well-established existing relationship between our companies and supporting Masdar’s ambition to drive the development of green hydrogen around the world. We already have plans to develop green hydrogen projects in Egypt and this agreement reinforces Masdar and the UAE’s commitment to Egypt to realise its massive clean energy and green hydrogen potential, alongside our Africa renewable energy champion IPH.”

Amr Allam, co-CEO Hassan Allam Holding, said, "Joining forces with bp, Masdar, and Infinity Power in this consortium is a significant step towards advancing the development of green hydrogen and anchoring Egypt as a key player in this sector. Our combined local and global expertise will create economic opportunities and contribute to a cleaner and greener future for Egypt and help to decarbonise hard-to-abate sectors globally relying on fossil fuels.”

Nayer Fouad, CEO of Infinity Power said, “We know Africa has abundant renewable resources, and this hydrogen export hub will take advantage of these resources and bring environmental and economic benefits to Egypt and other nations. Hydrogen power is an incredibly exciting technology, and this export hub can help to power green industry in Africa and beyond and strengthen Egypt’s role as a leader in green power."

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