Wollerau, 29 February 2024
Smartenergy has signed a Memorandum of Understanding (MoU) with the Government of Egypt, establishing a collaboration through which the Swiss renewable energy investment company can commence feasibility and engineering studies for the construction of an eAmmonia production plant in the country. Smartenergy started prospecting the market and strengthing ties with local developers and partners in 2022.
“Egypt is an extraordinary market from a strategic perspective for the production and distribution of green hydrogen and its derivatives, such as eAmmonia,” stated Joāo Cunha, COO and Deputy CEO of Smartenergy. “This is due to its huge potential in endogenous resources, such as wind and sun, and the extensive land available for the development of projects, as well as its strategic connection to Europe and Asia via the Mediterranean Sea and the Suez Canal. Also, strategic national players of the highest level, like the country Government with its New and Renewable Energy Authority and the Egyptian Electricity Transmission Company, the Souvereign Fund of Egypt for Investment and Development, and the General Authority for Suez Canal Economic Zone have a real commitment to the energy transition and perfectly understand and assume their role in the future energy landscape with resolute actions.”
One of the world’s largest eAmmonia projects
The project concept presented by Smartenergy, which has received approval from the Egyptian government, includes the development of 2.6 GW of renewable energy (wind and solar PV) to generate over 150,000 tons of Green Hydrogen annually through electrolysis in a 1 GW plant. This hydrogen will be transformed into 830,000 tons/year of eAmmonia, destined for two primary uses: producing fertilisers and as green fuel for the maritime sector. This project, serving both local offtake and exports, would become one of the world’s largest initiatives related to green ammonia production, reaffirming Egypt’s strategic position for the development of green hydrogen and derivatives projects and Smartenergy as a strong renewable energy partner for the country.