London headquartered clean energy sector company PASH Global (PASH), has signed a Memorandum ofUnderstanding (MoU) with the Government of Egypt represented by key Egyptian entities, to develop a large-scale green hydrogen and ammonia project in the Suez Canal Economic Zone. This initiative aligns with Egypt’s visionary Integrated Sustainable Energy Strategy (ISES), targeting a remarkable 42% renewable energy share by 2035.
In this collaboration with the General Authority for 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), PASH aims to help revolutionize Egypt’s energy landscape.
Key Highlights of the Collaboration:
• Green Hydrogen and Ammonia Production: PASH commits to harnessing renewable energy to power large-scale electrolysers, ensuring the production of carbon-neutral green hydrogen, which will serve as feedstock for an adjacent ammonia synthesis facility powered by renewables, facilitating the production and export of green ammonia through the strategic Ain Sokhna port.
• Strategic Positioning of Egypt: The collaboration seeks to establish Egypt as a formidable global hub for green molecules, reinforcing the country’s commitment to renewable development and leading the global shift away from fossil fuels.
• Pioneering Multiple Green Hydrogen and Ammonia Projects: PASH is at the forefront of discussions for various green hydrogen and ammonia projects on a global scale, marking a strategic leap into this transformative vertical alongside key partners worldwide.
• Alignment with Egypt’s Green Strategy: The clean energy project is fully aligned with Egypt’s Integrated Sustainable Energy Strategy (ISES), affirming the government’s dedication to reaching the ambitious 42% renewable energy targets by 2035.
• International Collaboration and Offtake Agreements: PASH is currently in discussions with prominent international organisations to secure long-term offtake agreements for green ammonia, further solidifying its position in the global green energy landscape.
• Feasibility Study and Future Milestones: PASH is in the process of conducting a comprehensive feasibility study, paving the way for the Front-End Engineering Design (FEED) phase. The Final Investment Decision is anticipated within the next 24 months.
• Phased Development for Optimal Efficiency: The project’s phased development, totalling around 1.5 GW of electrolysers and approximately 4 GW of solar PV and wind power generation across two phases, strategically mitigates project risks.
• Leveraging the Suez Canal’s Strategic Position: The project capitalizes on Egypt’s unique geographical advantage, with the Suez Canal serving as a crossroads for Africa, Europe, and Asia. Approximately 13% of global trade flows through the Suez Canal, positioning Egypt as a key player in the global green energy trade.
Kofi Owusu Bempah (CEO) emphasized, “This partnership signifies a significant leap toward Egypt’s green strategy, and PASH Global is proud to play a pivotal role in this transformative journey. Our commitment to sustainable energy solutions is unwavering, and we are enthusiastic about the positive impact this initiative will have on both Egypt’s energy landscape and the global energy transition.”
