India’s ReNew Power will build a green hydrogen plant in Egypt’s Suez Canal Economic Zone which would cost $8bn.

Once operational, the plant is expected to produce 220,000 tonnes/year of green hydrogen, ReNew said in a statement on 15 November.

Elsewedy Electric, a leading integrated energy solutions provider in the Middle East and Africa, will be the local co-developer for the project in Egypt.

In the first phase of the project, a 20,000 tonne/year green hydrogen pilot plant, along with derivatives, will be set up and is slated to be commissioned by 2026.

The second phase will raise the capacity to the expected total of 220,000 tonnes/year.

ReNew Power was set up in 2011 and is a subsidiary of ReNew Energy Global. It is one of the largest renewable energy independent power producers in India and has over 120 operational utility-scale wind, solar and hydro energy projects across nine Indian states as of August 2022, according to the company’s website.

In April 2022, IOC, ReNew Power and Indian engineering firm Larsen & Toubro (L&T) announced the formation of a joint venture company to develop the green hydrogen sector in India.

Egypt’s deal with ReNew Power is one of eight framework agreements signed by the government on 15 November to develop green hydrogen and ammonia projects, according to a report by newswire agency Reuters.

The agreements with various companies were signed during the 27th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP27) in Sharm el-Sheikh in Egypt, with projects concentrated around the Red Sea port of Ain Sokhna and the Suez Canal Economic Zone.

These agreements are expected to help Egypt become a hub of green hydrogen production and win 5% of the global market by 2040.