ReNew Power to set green hydrogen plant in Egypt with $8 bn investment

ReNew Power on Tuesday announced that it has signed a framework agreement with Egypt to set up a green hydrogen plant in the Suez Canal Economic Zone with an investment of USD 8 billion.

“ReNew Power Private Ltd, a subsidiary of ReNew Energy Global Plc (ReNew), one of the leading renewable energy companies globally, today signed the framework agreement with the government of Egypt to set up a green hydrogen plant in the Suez Canal Economic Zone with an investment of USD 8 billion and a targeted annual production of 2,20,000 tonnes of green hydrogen,” a company statement said.

Framework agreement follows the Memorandum of Understanding (MoU) signed in July this year.