Home » Voltalia, Taqa Arabia Sign Framework Agreement

Voltalia, Taqa Arabia Sign Framework Agreement

by Madaline Dunn

Renewable energies player Voltalia and partner TAQA Arabia have signed a framework agreement to continue developing a cluster combining renewable energy and green hydrogen production. The project was first agreed to by the two parties back in December 2022, with the signing of an MoU.

The project will be implemented in two phases, each comprising a 500-MW electrolyser powered by more than 1.3 GW of solar and wind energy.

According to the companies, the facility will have an annual production capacity exceeding 130,000 tons of hydrogen for each phase and will be located at a greenfield site near Ain Sokhna port in the Suez Canal Economic Zone.

Commenting on the framework agreement, Sebastien Clerc, CEO of Voltalia, said: “This landmark project will contribute significantly to Egypt’s transition to a green sustainable economy. The project will enhance Egypt energy security by becoming less reliant on fossils fuels and achieving sustainable development goals.”

The agreement was signed at the Egypt-EU Investment Conference, which gathered 1,000 participants, including EU and Member States representatives, Egyptian senior officials, international financial institutions and CEOs of European and Egyptian companies.

Conference organisers shared that the event served as a platform for discussion on economic reforms to improve the business environment and attract further EU investment in key sectors. 

Speaking at the event, Eng. Khaled Abubakr, Chairman of TAQA Arabia, added: “This conference reflects the EU’s confidence in Egypt’s economic achievements evidenced by the economic reform programs implemented by the government over the past decade. These reforms include exceptional efforts to increase the share of renewable energy.”

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