Hassan Allam Holding’s Post

In the presence of H.E. Dr. Moustafa Madbouly, Prime Minister of Egypt, Dr. Mohamed Shaker, the Minister of Electricity and Renewable Energy, and Dr. Hala H. Elsaid, the Minister of Planning and Economic Development, Hassan Allam Utilities, alongside Infinity Power, Masdar (Abu Dhabi Future Energy Company), and bp, signed a Joint Development Agreement (JDA) to investigate the potential for a multi-phase green hydrogen (gH2) project in Egypt.   The agreement was signed on the sidelines of the Egypt EU Investment Conference by Karim Hefzy, Chief Operating Officer of Hassan Allam Utilities; Nader Zaki, bp’s Regional President, Middle East and North Africa; Mohamed I. Mansour, Chairman of Infinity Power; and Andreas Bieringer, Director, Green Hydrogen Business Development and Commercial, Masdar. The partners are combining their respective gH2 projects in Egypt and will also explore the potential for a single large-scale, multi-phase project for the development of gH2 and its derivatives, with a focus on exports. The newly formed consortium has signed a Framework Agreement (FWA) with the Egyptian government to start carrying out a set of studies and activities to evaluate the technical and commercial feasibility of the project.   Amr Allam, Co-CEO Hassan Allam Holding, said: "Joining forces with bp, Masdar, and Infinity Power in this consortium is a significant step towards advancing the development of green hydrogen and anchoring Egypt as a key player in this sector. Our combined local and global expertise will create economic opportunities and contribute to a cleaner and greener future for Egypt and help to decarbonize hard-to-abate sectors globally relying on fossil fuels.” For more information, visit: https://lnkd.in/dQXXYgqn #HassanAllamUtilities #GreenHydrogen #EU #Egypt #Investment #Development #Sustainability #Renewable #Decarbonize #Global

We are honored to announce that on Wednesday, the 28th of February, our CEO Kofi Owusu Bempah signed a Memorandum of Understanding with the Government of Egypt to implement the projects in the fields of green hydrogen and renewable energy in the Suez Canal Economic Zone. The series of agreements are expected to bring in investments of over $40bn over the next 10 years. The agreements were signed by Hala El-Said, Minister of Planning and Economic Development and Chairperson of the Sovereign Fund of Egypt (TSFE), Waleed Gamal El-Din, Chairman of the General Authority for the Suez Canal Economic Zone (SCZone), Mohamed El Khayat, Chairman of the New and Renewable Energy Authority (NREA), and Khaled Abdel Karim Hassan, Member of the Board of Directors for Studies and Designs and Supervisor of the Central Projects Sector at the Egyptian Electricity Transmission Company (EETC). PASH GLOBAL is honored to be a part of Egyptian transformation into a regional center for the production and export of green energy. We have a vast expertise of operating in emerging markets and it is in our DNA to act towards advancing the energy transition 🌎 🌿 To read the full press release, please visit: https://lnkd.in/d9chdd2n #PASHGlobal #GreenEnergyRevolution #SustainableFuture #RenewableEnergy #EgyptGreenProject #GlobalEnergyHub #SuezCanalEnergy #EnergyTransition #ProjectUnveiling

Sjoerd Boer, our Vice Present Business Development New Energies, took the stage earlier today at the Green Hydrogen Summit #ghso in Muscat, Oman. Sjoerd was invited to participate in a panel discussion on the financing of hydrogen projects, to represent the perspective of businesses that develop, build, and grow #greenhydrogen infrastructure. “It was a pleasure to participate,” says Sjoerd, “And I enjoyed exchanging perspectives with experts in investment banking, international trade, and project financing. Collaboration across all parts of the green hydrogen value chain – including financing – is crucial to capitalize on the opportunity to establish a green hydrogen ecosystem in Oman.” Advario is a constructive partner for companies in Oman’s energy sector. Active in Oman together with our partner OQ since 2006, we operate a large energy storage terminal in the SOHAR Port and Freezone. There we continuously invest in projects that allow for storage of new products, or lead to deeper integration with our partners in the port. We are also willing and able to expand our footprint in Oman, in Sohar, or at other locations where we can support the growth of Oman’s green hydrogen economy. Sjoerd: “Advario has the proven ability to handle complex products safely. We have been safely storing and handling #biofuels, #sustainableaviationfuels, #ethanol, #methanol and #ammonia in our global portfolio, for years." "We believe in Oman as a hydrogen hub. Oman has the geographical location, access to renewable resources and energy sector experience to be a global powerhouse. And with Hydrom, the Omani government has created a unique and proven vehicle capable of ensuring a coordinated and timely delivery of this vision.” #partnersforprogress

Egypt is advancing rapidly in the green hydrogen and ammonia race, securing billions in investments for multiple green ammonia and hydrogen projects during the Egypt-EU Investment Conference in Cairo. Prime Minister Mostafa Madbouly oversaw the signing of landmark agreements between the The Sovereign Fund of Egypt (TSFE) and European developers, highlighting growing international interest in Egypt's green energy sector. The agreements, witnessed by key ministers and officials, focus on developing green ammonia projects in the Suez Canal Economic Zone (SCZONE), particularly in East Port Said and Sokhna Port. Waleid Gamal Eldien, MSc, Chairperson of SCZONE, emphasised the confidence these investments demonstrate in the Egyptian economy and the attractiveness of SCZONE's investment incentives. Notably, a $14 billion project in Sokhna Port involves bp, Masdar (Abu Dhabi Future Energy Company), Hassan Allam Utilities, and Infinity Power, while an $11 billion project in East Port Said is signed with DAI. Some of the additional agreements include a $4.25 billion project with Ocior Energy Holding Ltd and a $3.46 billion project with a consortium of TAQA Arabia and Voltalia, both in Sokhna Port. Another notable agreement was signed between the General Authority for Alexandria Port, Egypt's New and Renewable Energy Authority (NREA-EG), and an international consortium led by Belgium's DEME HYPORT Energy (DEME Group). These investments align with Egypt's goals to position itself as a regional green energy hub, contributing significantly to its renewable energy objectives and efforts to decarbonize its energy sector. #GreenEnergy #Egypt #RenewableEnergy #Sustainability #Investment https://lnkd.in/d7Z7Df5V

I recently came across Professor Aswath Damodaran updated estimates on #EquityRiskPremiums for various countries and sectors. His work provides valuable inputs for companies and investors assessing project viability. One interesting finding from the analysis is that the cost of equity for #RenewableEnergy projects in the #MENA region has been steadily declining over the past 5 years. On average, the capital cost for renewables now stands around 10.6% across Saudi Arabia, Morocco, Oman and UAE - significantly narrowing the gap with conventional fossil fuel projects. This convergence indicates renewable technologies are gaining competitive parity as risks reduce with operational track records, supportive policies and grid integration improvements. Lower costs of capital will be critical to further drive renewable deployment and the energy transition in the region. I'm grateful to Prof. Damodaran for sharing his insights and research, which provide an empirical basis for strategizing sustainable infrastructure investments. The declining premium for renewables is an encouraging trend, though continued policy momentum will be needed to fully realize their economic and environmental benefits. #EnergyEconomics #FMVA #HydrogenEconomy #WEC #SustainableInvestment #ProjectFinance

𝐄𝐠𝐲𝐩𝐭'𝐬 𝐇𝐲𝐝𝐫𝐨𝐠𝐞𝐧 𝐑𝐞𝐯𝐨𝐥𝐮𝐭𝐢𝐨𝐧 🇪🇬 𝐅𝐨𝐮𝐫 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐭𝐨 𝐈𝐧𝐯𝐞𝐬𝐭 $𝟏𝟐 𝐁𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝐚 𝐍𝐞𝐰 𝐆𝐫𝐞𝐞𝐧 𝐇𝐲𝐝𝐫𝐨𝐠𝐞𝐧 𝐏𝐫𝐨𝐣𝐞𝐜𝐭 𝐢𝐧 𝐄𝐠𝐲𝐩𝐭 A new green hydrogen project with a massive investment of $12 billion is set to launch, featuring a powerhouse consortium including Egypt's Infinity Power and Hassan Allam, UAE's Masdar, and the UK's BP. This ambitious initiative aims to bolster Egypt's energy sector amid ongoing gas supply challenges and the nation's drive towards carbon neutrality. The project, located in the Suez Canal Economic Zone, boasts a capacity of 2 gigawatts and will be implemented in stages over ten years. This significant step aligns with Egypt's goal to generate 42% of its electricity from renewable sources by 2030. Green hydrogen, produced from water electrolysis using renewable energy, represents a vital component of Egypt's sustainable energy strategy. With foreign direct investments in green hydrogen expected to surpass $40 billion by 2035, this project marks a pivotal move towards a greener future. Feasibility studies and site selection are currently underway, and we look forward to the transformative impact this project will have on the energy landscape. #GreenHydrogen #ikshanh #SustainableEnergy #RenewableEnergy #Egypt #Investment #InfinityPower #Masdar #BP #HassanAllam #Innovation #CarbonNeutrality

The World Bank has just issued the longform report "Scaling Hydrogen Financing for Development". An interesting paper which, notably, provides insights on the forefront position of the #MENA region in the H2 space: 🔢 There are 76 #cleanhydrogen projects announced in Middle East and North Africa, with the top-three busiest countries being #Egypt #Oman and #UAE, and >85% projects geared towards producing #renewablehydrogen 🏗 Among the #cleanammonia projects having started construction in emerging markets, MENA leads with 3 projects out of 6, 85% of the future installed capacity and the only gigawatt-scale project (led by NEOM Green Hydrogen Company in Saudi Arabia) 💵 MENA concentrates most of the new projects unveiled in 2023, with a strong uptake in investment announced during the course of last year, totalling USD40bn to date #greenhydrogen #emergingmarkets

ENERGULF WELCOMES UAE & SAUDI ARABIA TO BRICS: A NEW ERA FOR GCC ENERGY UNFOLDS! The BRICS bloc just got bigger and bolder with the official entry of the UAE and Saudi Arabia! EnerGulf embraces this historic moment, foreseeing exciting possibilities for the region's energy landscape: Enhanced Cooperation: BRICS nations are powerhouses in renewable energy, clean tech, and infrastructure development. This paves the way for collaborative projects, knowledge sharing, and joint ventures in the GCC, accelerating the region's transition to a sustainable future. Market Expansion: Access to the vast BRICS market presents immense opportunities for GCC energy players. Diversifying trade partnerships and attracting foreign investments will boost the regional energy sector's growth and global competitiveness. Investment Opportunities: BRICS member nations are seeking secure and reliable energy sources. The GCC's stable energy production and strategic location can attract significant investments in exploration, production, and infrastructure upgrades, further strengthening the region's energy hub status. South-South Synergy: Collaboration within BRICS fosters knowledge exchange and technology transfer, particularly in areas like solar, wind, and hydrogen technologies. This can empower the GCC to develop and export its own clean energy solutions, becoming a leader in the global energy transition. Geopolitical Significance: BRICS' growing international influence brings the GCC closer to a powerful economic and political bloc. This strengthens the region's voice on the global stage and opens doors for greater cooperation in areas like climate change and sustainable development. EnerGulf believes this is a turning point for the GCC energy sector, paving the way for a more innovative, diversified, and sustainable future. Join us in celebrating this exciting new chapter! Learn more about EnerGulf: https://www.energulf.co/ #BRICS #GCC #Energy #Renewables #Sustainability #Collaboration