Fortescue Future Industries (FFI), subsidiary of Australian iron ore miner Fortescue Metals Group, has announced that it has signed a memorandum of understanding with New and Renewable Energy Authority, the General Authority for Suez Canal Economic Zone, Egyptian Electricity Transmission Company and the Sovereign Fund of Egypt for Investment and Development to conduct studies with a view to developing green hydrogen production in Egypt.
The agreement demonstrates the parties’ commitment to becoming leaders in renewable energy production and to take steps towards the production of green hydrogen in the country.
Subject to the outcome of the studies, FFI has an interest in developing large-scale renewable energy projects in Egypt.
