BP has entered a Joint Development Agreement (JDA) to join an existing consortium comprising Masdar, Hassan Allam Utilities, and Infinity Power to explore the potential development of a multi-phase green hydrogen (gH2) project in Egypt.
Under the JDA, bp will lead the development and operation of the project on behalf of the consortium. The partners will consolidate their respective gH2 projects in Egypt and explore the feasibility of a large-scale, multi-phase initiative focused on developing gH2 and its derivatives, with an emphasis on export opportunities.
The newly formed consortium has signed a Framework Agreement (FWA) with the Egyptian government to initiate a series of studies and activities evaluating the technical and commercial viability of the project.
The FWA signing occurred during the Egypt-EU Investment Conference and was attended by key officials including H.E. Dr. Moustafa Madbouly, Prime Minister of Egypt, Dr. Mohamed Shaker, Minister of Electricity and Renewable Energy, and Dr. Hala El-Said, Minister of Planning and Economic Development. The agreement was executed by Nader Zaki, bp’s Regional President, Middle East and North Africa; Karim Hefzy, Chief Operating Officer of Hassan Allam Utilities; Andreas Bieringer, Director, Green Hydrogen Business Development and Commercial, Masdar; and Mohamed Ismail Mansour, Chairman of Infinity Power.
Nader Zaki, bp’s regional president for the Middle East and North Africa, expressed, “We are pleased that the signing coincides with our celebration of 60 years in Egypt, reflecting our ongoing commitment to the country. Over decades, we have been a key energy supplier in Egypt, supporting its sustainable energy future while meeting growing energy demands. Partnering with experienced energy firms presents a significant opportunity for regional cooperation and global market access, crucial for Egypt’s energy transition plans.”
Mohammad Abdelqader El Ramahi, Masdar’s Chief Green Hydrogen Officer, emphasized Masdar’s commitment to advancing green hydrogen globally and in Egypt, reinforcing the UAE’s support for Egypt’s clean energy goals.
Amr Allam, Co-CEO of Hassan Allam Holding, highlighted the consortium’s collaboration as pivotal for Egypt’s role in green hydrogen development, aiming to create economic opportunities and contribute to global decarbonization efforts.
Felipe Arbelaez, bp’s SVP Hydrogen and CCS, underscored hydrogen’s potential in global energy, expressing bp’s eagerness to collaborate on Egypt’s hydrogen initiatives.
Mohamed Ismail Mansour, Chairman of Infinity Power, emphasized the consortium’s ambition and collaboration in fostering green investments in Africa, leveraging Egypt’s renewable resources for environmental and economic benefits.
Nayer Fouad, CEO of Infinity Power, noted Africa’s renewable potential and highlighted the project’s role in boosting green industry and reinforcing Egypt’s leadership in green power.
This initiative marks a significant step towards establishing Egypt as a prominent player in the global green hydrogen sector, supported by comprehensive expertise and collaborative efforts among leading energy entities.
Related
