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A study indicated that the agreement signed between the Egyptian government and ReNEW Power Company of India comes as a new step among several steps taken by Egypt to diversify the basket of renewable energy sources produced. ReNEW Power is a renewable energy producer based in Gurgaon, India, where the company has reached an agreement with the Egyptian Electricity Transmission Company (EETC), the General Authority for the Suez Canal Economic Zone (SCzone), the Sovereign Wealth Fund of Egypt (TSFE), as well as the Energy Authority New and renewed
Green hydrogen is an emerging type of low-carbon renewable energy. Green Hydrogen contains much less carbon emissions than grey hydrogen, which is produced by steam reforming of natural gas. Close to 99% of the hydrogen produced globally in 2020 was derived from fossil fuels are carbon-based sources. But Green hydrogen is the result of the electrolysis of water, and it has clear environmental benefits in reducing carbon emissions from sectors with huge emissions, such as steel and cement production, thus helping to limit climate change.
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Importantly, the agreement signed between the Egyptian government and ReNEW Power Company comes as a new step among several steps taken by Egypt to diversify the basket of renewable energy sources produced. ReNEW Power is a renewable energy producer based in Gurgaon, India, where the company has reached an agreement with the Egyptian Electricity Transmission Company (EETC), the General Authority for the Suez Canal Economic Zone (SCzone), the Sovereign Wealth Fund of Egypt (TSFE), as well as the Energy Authority New and renewed.
ReNEW will build units capable of converting electricity to hydrogen as well as its derivatives. The facility is located in the coastal city of Ain Sukhna, Suez Governorate. The plant is expected to have a production capacity of 1.32 million tons per year. This will make it one of the largest green hydrogen factories in Egypt so far.
