BP joins Masdar-consortium for green hydrogen project in Egypt
In a significant move to advance green hydrogen development, BP has partnered with Masdar, Hassan Allam Utilities, and Infinity Power in a Joint Development Agreement (JDA) for a multi-phase green hydrogen project in Egypt. This collaboration aims to harness Egypt’s vast renewable resources to create a major green hydrogen production hub focused on global exports.
The consortium, which includes major players in the energy sector, has also signed a Framework Agreement (FWA) with the Egyptian government. This agreement, established during the Egypt-EU Investment Conference, outlines the initial stages of exploring the technical and commercial viability of this ambitious project. Key figures such as Nader Zaki of BP, Karim Hefzy of Hassan Allam Utilities, Andreas Bieringer of Masdar, and Mohamed Ismail Mansour of Infinity Power, witnessed by Egyptian Prime Minister Dr. Moustafa Madbouly and other senior officials, were present at the signing ceremony.
BP’s involvement is set to enhance the consortium’s capabilities, acting as the lead developer and operator. “The signing reflects our long-standing commitment to Egypt and marks a milestone in our 60-year history here,” commented Nader Zaki. The project aims to meet growing energy demands while supporting Egypt’s sustainable energy transition.
Mohammad Abdelqader El Ramahi of Masdar highlighted the strategic nature of the partnership, enhancing their ongoing efforts to develop green hydrogen globally. Amr Allam of Hassan Allam Holding emphasized the economic opportunities and the consortium’s role in advancing Egypt’s position in the green hydrogen sector.
Felipe Arbelaez of BP noted hydrogen’s potential role in the future of global energy, with the project poised to decarbonize sectors reliant on fossil fuels. Mohamed Ismail Mansour and Nayer Fouad of Infinity Power also commented on the project’s potential to leverage Africa’s renewable resources for green industry growth and environmental benefits.
This initiative not only aims to position Egypt as a leader in green energy but also to contribute significantly to global efforts in sustainable energy practices.
The integration of BP into this consortium is a game-changer for the green hydrogen industry in Africa. It combines substantial local and global expertise, enhancing the project’s potential for success and positioning Egypt as a pivotal player in the global green hydrogen market.