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PASH Global (PASH), renowned for its expertise in the clean energy sector, has inked a landmark Memorandum of Understanding (MoU) with the Government of Egypt and key Egyptian entities. This collaboration aims to spearhead the development of a significant green hydrogen and ammonia project within the Suez Canal Economic Zone, aligning with Egypt’s ambitious Integrated Sustainable Energy Strategy (ISES) targeting a remarkable 42% renewable energy share by 2035.
In partnership 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 endeavors to revolutionize Egypt’s energy landscape.
Key Highlights of the Collaboration:
Green Hydrogen and Ammonia Production: PASH commits to leveraging renewable energy for large-scale electrolysers to produce carbon-neutral green hydrogen. This hydrogen will serve as a 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 aims to position Egypt as a global hub for green molecules, reinforcing its commitment to renewable development and leading the transition away from fossil fuels.
Pioneering Multiple Green Hydrogen and Ammonia Projects: PASH is actively engaged in discussions for various global green hydrogen and ammonia projects, signaling a strategic leap into this transformative vertical alongside global partners.
Alignment with Egypt’s Green Strategy: The clean energy project aligns perfectly with Egypt’s ISES, underscoring the government’s dedication to achieving ambitious renewable energy targets by 2035.
International Collaboration and Offtake Agreements: PASH is in talks with international organizations to secure long-term offtake agreements for green ammonia, strengthening its position in the global green energy landscape.
Feasibility Study and Future Milestones: PASH is conducting a comprehensive feasibility study, paving the way for the Front-End Engineering Design (FEED) phase. The Final Investment Decision is expected within the next 24 months.
Phased Development for Optimal Efficiency: The project’s phased development, encompassing approximately 1.5 GW of electrolysers and 4 GW of solar PV and wind power generation across two phases, strategically mitigates project risks.
Leveraging the Suez Canal’s Strategic Position: Capitalizing on Egypt’s unique geographical advantage, the project harnesses the strategic position of the Suez Canal, a vital crossroads for global trade, positioning Egypt as a key player in the global green energy trade.Kofi Owusu Bempah, CEO of PASH Global, emphasized, “This partnership signifies a significant leap towards 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.”
PASH Global’s venture into green hydrogen and ammonia production underscores its dedication to fostering sustainable energy practices, marking a milestone in the company’s mission to drive positive change in the energy sector. |
