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Witnessed by Egypt’s Prime Minister, TAQA Arabia with French leader Voltalia sign a Memorandum of Understanding with the

Egyptian Government to develop a green hydrogen production facility in the Suez Canal zone.

 

                       

Cairo – 7 December 2022: At the ministerial cabinet’s office in the new administrative capital, TAQA Arabia and its partner Voltalia (Euronext Paris, ISIN code: FR0011995588) signed an MOU with the Government of Egypt, to develop, finance and operate a 150ktpa green hydrogen production facility. The initial project will include a new green hydrogen production facility with a capacity of 15,000 tonnes per year in a greenfield site near Ain Sokhna port in the Suez Canal Economic Zone, through a 100-megawatts electrolyser supplied with 283 megawatts of renewable power. The project will be extendable to up to 150,000 tonnes per year of green hydrogen with an electrolyser capacity of up to an aggregate of 1 gigawatt supplied by an aggregate of 2.7 gigawatts of solar-and-wind power. The land required by the cluster will be provided by the Egyptian government.

At the official signing ceremony in Cairo, the Government of Egypt was represented by Dr Mostafa Madbouly, Egypt’s Prime Minister, Dr Mohamed Shaker, Minister of Electricity and Renewable Energy, Dr Hala El Said - Minister of Planning and Economic Development and Dr Mahmoud Essmat - Minister of Public enterprise Sector. The signatories, Mr. Ayman Soliman, CEO of the Sovereign Fund of Egypt (TSFE), Mr. Waleid Gamal ElDien, Chairman of the General Authority for Suez Canal Economic Zone (SCZONE), Mrs. Pakinam Kafafi- CEO of TAQA Arabia, Mr. Karim El Ezzawy- Voltalia Country Manager, Dr Mohamed El-Khayat, Chairman of the New and Renewable Energy Authority (NREA) and Eng. Salah Ezzat, Vice Chairman of the Egyptian Electricity Transmission Company (EETC). Contributing to the Egypt’s constructive vision to increase the share of renewables in the energy mix, TAQA Arabia and Voltalia are committed to supporting the country’s goal of a 42% renewable share of total generation capacity by 2035.

“We are thrilled to partner with the French Voltalia, a leading renewable energy player and a service provider with strong global presence. As Egypt’s leading private sector energy and utility provider, TAQA Arabia is committed to contribute to building Egypt's green economy. This cooperation comes in support of Egypt's sustainable energy strategy 2035”,” said Khaled Abubakr, Executive Chairman of TAQA Arabia throughout the signing ceremony.