Egypt, Saudi Arabia’s Acwa Power sign $4 bln green hydrogen deal

Egypt has signed a $4 billion deal with Saudi Arabia’s Acwa Power company to develop a green hydrogen project, Egypt’s cabinet said in a statement on Wednesday.

Following this agreement, a work plan will be drawn up to develop the first phase of the green hydrogen project, with a production capacity of up to 600,000 tons annually of green ammonia, the statement added.