bp has announced that it has entered into a Joint Development Agreement to join Masdar, Hassan Allam Utilities and Infinity Power to explore the potential development of a multi-phase green hydrogen (gH2) project in Egypt.
Under the JDA, bp will act as the lead developer and operator of the project on behalf of the consortium. The partners are combining their respective green hydrogen projects in Egypt and will also explore the potential for a single large-scale, multi-phase project for the development of green hydrogen and its derivatives, with a focus on exports.
The newly formed consortium has signed a Framework Agreement (FWA) with the Egyptian government to start carrying out a set of studies and activities to evaluate the technical and commercial feasibility of the project.
“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 already have plans to develop green hydrogen projects in Egypt and this agreement reinforces Masdar and the UAE’s commitment to Egypt to realize its massive clean energy and green hydrogen potential, alongside our Africa renewable energy champion IPH.”
Amr Allam, Co-CEO Hassan Allam Holding, stated, “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 decarbonize hard-to-abate sectors globally relying on fossil fuels.
Mohamed Ismail Mansour, Chairman of Infinity Power held that bringing another partner on board highlights the ambition of our consortium and their commitment to collaborating and innovating to bring about new green investment in Africa.
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