The CEO of Green Hydrogen Management at the Emirati “Masdar” company, Mohammed Abdul Qader Al Ramahi, said that the company intends to expand further in the fields of solar electric energy, in addition to renewable energy in Egypt through the “Infinity Power” company.

Al-Ramahi pointed out that the company also aims to expand in the field of green hydrogen in Egypt, in the economic zone of the Suez Canal and the Mediterranean coast, through electrolyzers with a production capacity of 4 gigawatts to produce green ammonia intended for export, in addition to supplying local industries with green hydrogen.

The month of March 2023 witnessed the conclusion of a deal to acquire all shares of “Lekela Power”, which works to develop many renewable energy projects in Africa, and the company is considered one of the largest renewable energy companies on the continent.

The company is expected to expand in Saudi Arabia, Africa, the Middle East, and the United States of America. The first phase of the project will begin within five years. The company will also work to continue the procedures, and it is expected that the receipt of its land will be announced soon.

With the completion of the project, it will become one of the largest projects in the world to produce electricity from wind energy. An agreement was signed with a coalition of its partners – which includes “Infinity Power” and “Hassan Mustafa Allam” – during the month of June 2023, and wind energy will be produced, with a production capacity of about 10 gigawatts and will constitute With the completion of the largest wind power stations in the world.

The company has already begun cooperating with other companies to provide financing and obtain the best financing terms available to reduce the cost of electricity. The financial closure is expected to take place within 12 months, and the cost is linked to the investment value and influential variables such as shipping rates and other matters.

The project will support the local economy and the operation of raw materials in addition to achieving sustainable development, and achieving Egypt’s goal for renewable energy to constitute 42% of the energy mix by 2030.