The Hydrogen Paddle: Egypt unveils hydrogen plans for Suez Canal

Egypt has clinched hydrogen deals with seven worldwide developers, while the European Investment Bank (EIB) has agreed to toughen industrial manufacturing of Germany-based mostly Sunfire’s stable oxide electrolyzers.

March 5, 2024 Sergio Matalucci

Container ship transiting the Suez Canal

Image: Daniel Csörföly, Wikimedia Commons

Egypt has signed seven agreements with seven worldwide developers to earn inexperienced hydrogen manufacturing plans and renewable vitality installations within the Suez Canal Economic Zone. The agreements will toughen about $12 billion of pilot-portion investments, as well to about $29 billion for the first portion, acknowledged the Egyptian authorities, noting that this would possibly bring the total to about $40 billion within 10 years. 

Yara and GHC SAOC, a completely owned subsidiary of India’s Acme Cleantech, have signed a binding settlement to present ammonia with reduced CO2 emissions from Acme to Yara. “The long-term offtake settlement between Yara and Acme covers the provision of 100,000 tons each and every year of renewable ammonia and perchance the sector’s first arm’s-length contract for renewable ammonia of this scale and tenure,” acknowledged Yara.

The EIB has agreed to toughen preliminary industrial manufacturing of Germany-based mostly Sunfire’s stable oxide electrolyzers with up to €100 million ($108.5 million) in enterprise debt, with €70 million already signed. Within the pattern of stable oxide electrolyzers, Dresden-based mostly Sunfire will seek for improvements in stack and module make, usinf original materials and optimizing make, as well to automation and original manufacturing ways, to simplify the manufacturing activity, acknowledged the EIB.

The European Parliament and the Council of the European Union agreed to enlarge the uptake of sustainable fuels, equivalent to developed biofuels or hydrogen, within the aviation sector. The European Parliament acknowledged that initiating in 2025, as a minimal two% of aviation fuels will be inexperienced. This share will step by step enhance every five years to 6% by 2030, 20% by 2035, 34% by 2040, 42% by 2045, and finally attain 70% by 2050. The informal deal aloof must be current by the Council Committee of Eternal Representatives and Parliament’s Transport and Tourism Committee, and then the European Council and the European Parliament.

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