Egypt and Norway sign agreement to develop green projects across Africa
The Sovereign Fund of Egypt has signed a framework agreement with Norway’s government pension fund and Norwegian clean energy developer Scatec to study developing renewable energy and green hydrogen projects in nine African countries
The Sovereign Fund of Egypt has signed a framework agreement with Norway’s government pension fund and Norwegian clean energy developer Scatec to develop renewable energy and green hydrogen projects in nine African countries.
Under the agreement, the partner will target green projects in Tanzania, Ghana, South Sudan, Rwanda, Sierra Leone, Burundi, Djibouti, Uganda and the Democratic Republic of Congo.
The parties will form a coordination committee to explore potential investments in the nine countries and conduct feasibility studies before seeking to develop and finance the schemes.
Earlier in March, Egypt signed a $5bn memorandum of understanding (MoU) with Scatec to develop a green hydrogen and green ammonia plant in the Suez Canal area.
The green hydrogen and ammonia facility will be located in the SCZONE in Ain Sokhna Industrial Zone and will be powered by renewable energy plants to be built in close proximity on an area of land allocated by NREA. The plant will be designed so it can be expanded up to 3 million tonnes a year in the future
Take your first step towards energy transition
Middle East Energy has a 45+ year legacy of bringing together key stakeholders within the energy sector; to network, debate, and form key relationships in an industry that's ever-changing.
The 48th edition of Middle East Energy will bring together 800 exhibitors, 3 powerful conferences, 5 product sectors, and an exclusive VIP programme, all under one roof! Join 20,000+ energy professionals from 7 – 9 March 2023 at Dubai World Trade Centre, UAE.
Market Outlook Report 2022
Find out about the business opportunities, regulatory environment in the Middle East's power market and the planned projects and investments in Africa's emerging utilities markets in Energy & Utilities' Middle East and Africa Outlook report.