bp has entered into a Joint Development Agreement to join a newly established consortium comprising of 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 main developer and operator of the project on behalf of the consortium. The partners are combining their respective gH2 projects in Egypt and will also explore the potential for a single large-scale, multi-phase project for the development of gH2 and its derivatives, with a focus on exports.
The consortium has signed a framework agreement (FWA) with the Egyptian government to start carrying out a raft of studies and activities to evaluate the technical and commercial feasibility of the project.
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 decarbonize hard-to-abate sectors globally relying on fossil fuels.”
Nayer Fouad, CEO of Infinity Power commented: “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.”
