BP has entered a Joint Development Agreement with Masdar, Hassan Allam Utilities, and Infinity Power. The goal is to explore a multi-phase green hydrogen project in Egypt.
BP will be the main developer and operator for this initiative. The partners will combine their existing green hydrogen projects in Egypt. They aim to create a large-scale project focusing on exports of green hydrogen and its derivatives.
The consortium signed a Framework Agreement with the Egyptian government. This agreement was signed at the Egypt-EU Investment Conference, and allows them to start studies and activities.
These studies will evaluate the technical and commercial feasibility of the project. Key figures at the signing included BP’s Nader Zaki and Masdar’s Andreas Bieringer, among others. Egyptian Prime Minister Dr. Moustafa Madbouly and other ministers witnessed the signing.
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Strong Commitment to Egypt’s Energy Future
BP is celebrating 60 years in Egypt, showing its long-term commitment. While giving his remarks. Nader Zaki, Regional President for the Middle East and North Africa, bp stated,
“We are pleased that the signing coincides with our celebration of 60 years in Egypt, which clearly reflects our ongoing commitment to the country.
“Over the decades, we have been a key supplier of energy in Egypt, consistently working to meet its increasing energy demands while supporting its endeavors for a more sustainable energy future.
“The diverse experiences of partners in energy projects present a great opportunity for regional cooperation and accessing global markets, fundamentally supporting Egypt’s energy transition plans.
Mohammad Abdelqader El Ramahi, Chief Green Hydrogen Officer, Masdar added, “We welcome the addition of bp to the consortium, building on the well-established existing relationship between our companies and supporting Masdar’s ambition to drive the development of green hydrogen around the world.
“We already have plans to develop green hydrogen projects in Egypt. This agreement reinforces Masdar and the UAE’s commitment to Egypt to realize its massive clean energy and green hydrogen potential, alongside our Africa renewable energy champion IPH.”
Amr Allam, Co-CEO, Hassan Allam Holding also added that they were excited about joining forces with BP, Masdar, and Infinity Power.
They believe this collaboration will make Egypt a key player in green hydrogen. Their local and global expertise will create economic opportunities and contribute to a greener future.
Moreover, BP’s Felipe Arbelaez emphasizes hydrogen’s role in global energy. They are eager to work with partners to explore hydrogen’s potential in Egypt.
Infinity Power’s Mohamed Ismail Mansour sees this as a step towards new green investments in Africa. Their experience with large projects will be valuable for this initiative.