A consortium of Masdar, Hassan Allam Utilities and Infinity Power has announced bp, a British multinational oil and gas company, as its new member entered by signing a Joint Development Agreement (JDA), to explore the potential development of a multi-phase green hydrogen (gH2) project in Egypt.
Under the JDA, bp will act as the main developer and operator of the project on behalf of the consortium. The partners are combining their respective gH2 projects in Egypt and will also explore the potential for a single large-scale, multi-phase project for the development of gH2 and its derivatives, with a focus on exports.
The newly formed consortium has signed a Framework Agreement (FWA) with the Egyptian government to start carrying out a set of studies and activities to evaluate the technical and commercial feasibility of the project.
The FWA agreement was signed on the sidelines of the Egypt-EU Investment Conference in the presence of Dr. Moustafa Madbouly, Prime Minister of Egypt, Dr. Mohamed Shaker, Minister of Electricity and Renewable Resources, and Dr. Hala El-Said, Minister of Planning and Economic Development.
It was signed by Nader Zaki, bp’s Regional President of the Middle East and North Africa; Andreas Bieringer, Director of Green Hydrogen Business Development and Commercial at Masdar, Karim Hefzy, Chief Operating Officer of Hassan Allam Utilities, and Mohamed Mansour, Chairman of Infinity Power.
Nader Zaki Regional President MENA bp
“We are pleased that the signing coincides with our celebration of 60 years in Egypt, which clearly reflects our ongoing commitment to the country. 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, Masdar’s Chief Green Hydrogen Officer, said that, “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 and 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.”
Allam stated that, “Joining forces with bp, Masdar, and Infinity Power in this consortium is a significant step towards advancing the development of green hydrogen and anchoring Egypt as a key player in this sector.”
Felipe Arbelaez, bp’s SVP Hydrogen and CCS, noted that, “Hydrogen has a role to play in the future of global energy. We look forward to working with our partners to try to unlock hydrogen’s potential in Egypt’s energy story.”
Mansour commented that, “Bringing another partner on board highlights the ambition of our consortium and our commitment to collaborating and innovating to bring about new green investment in Africa.”
