Cairo, Egypt:
In line with its mission to pioneer the vitality transition trade, Alfanar has signed a memorandum of understanding (MoU) with the General Authority of the Suez Canal Economic Zone (SCZone), the Sovereign Fund of Egypt (TSFE), the Egyptian Electricity Transmission Company (EETC) and the New and Renewable Energy Authority (NREA), aiming to develop a inexperienced ammonia facility in Sokhna. The $3.5 billion challenge will use renewable vitality sources and produce 500,000 tons of inexperienced ammonia from 100,000 tons of inexperienced hydrogen per 12 months.
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Group Photo (Photo: AETOSWire)
The settlement was signed in the presence of His Excellency Mostafa Madbouly, Prime Minister of Egypt, Mohamed Shaker, Minister of Electricity and Renewable Energy, Hala Elsaid, Minister of Planning & Economic Development together with a variety of Saudi officers, together with Mr. Faisal Al-Yemni, Deputy Minister for Investment, and Mr. Mazyad Al-Hoishan, Saudi Consul in Egypt.
Sabah Al-Mutlaq, Chairman of Board of Directors of Alfanar Global Development acknowledged, “We have enjoyed a long-standing relationship with Egypt and are thrilled to partner with such esteemed organizations of national importance on this program. Through this agreement, we will be developing a project to produce green hydrogen and green ammonia.”
Alfanar has loved a robust presence in Egypt for a few years by means of its design and vitality trade in addition to renewable vitality growth initiatives. Alfanar was one of many first firms throughout the globe to function a 50MW photo voltaic challenge in the Benban Solar Park in the Aswan area of Egypt. The electrical energy generated from this photo voltaic plant at the moment offsets round 57,000 tons of carbon dioxide emissions per 12 months.
About Al Fanar:
Today, Alfanar is a distinguished world participant in vitality transition and inexperienced gas with formidable renewable vitality initiatives throughout Saudi Arabia, United Kingdom, Spain, India, and Egypt. It is at the moment creating a pioneer challenge to supply inexperienced aviation gas from waste in the United Kingdom, and aspires to proceed its energetic participation in the brand new and renewable vitality trade, whether or not with its industrial arm among the many main producers of wind generators in the Asia, or by increasing the event of wind and photo voltaic vitality initiatives in Egypt.
*Source: AETOSWire
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