In the lead-up to Egypt hosting the 2022 United Nations Climate Change Conference (COP27), Egyptian President Abdel Fattah Al-Sisi has met with Fortescue Future Industries (FFI) founder and Executive Chairperson Dr Andrew Forrest to discuss the development of green energy projects in the region.
FFI has already signed a Memorandum of Understanding (MoU) to conduct studies to develop green hydrogen production in Egypt. The meeting discussed the potential development of a green hydrogen production project with a 9.2 gigawatt (GW) installed capacity.
Dr Forrest said, “Egypt is on the way to becoming a global powerhouse in the green energy value chain and will be ready to show the world that at COP27.”
“Egypt’s excellent wind and solar resources can generate the renewable energy required to produce large-scale green electricity, green hydrogen and green ammonia,” Dr Forrest said.
FFI is a global green energy company committed to producing green hydrogen, containing zero carbon, from 100 per cent renewable sources. It is a wholly-owned subsidiary of global green energy and resources company Fortescue Metals Group ($33.75 billion market capitalisation.)
FFI President Middle East North Africa, Moataz Kandil said, “FFI’s presence in Egypt is not only a step towards beginning to lower emissions, but a commitment to delivering social, environmental and economic benefits to the region.”
The Presidential spokesperson said, “the meeting tackled collaboration between Fortescue Future Industries and Egypt’s electricity and renewable energy sector in the fields of green hydrogen production and green ammonia, with a capacity of 9.2 GW installed capacity from renewable energy, as well as the localisation of electricity production from solar and wind resources such as solar panels and wind turbines.”