SCZone Inks Green Energy Production Deals Worth $32B

August 30, 2022


Egypt’s Suez Canal Economic Zone (SCZONE) has signed seven memoranda of understanding (MoUs) with global energy companies for green energy production projects worth a value of $31.75 billion.

The MoUs were signed in partnership with The Sovereign Fund of Egypt (TSFE), the Egyptian Electricity Transmission Company (EETC), and the New and Renewable Energy Authority (NREA) at the Egyptian Cabinet headquarters in the new Alamein city, in the presence of Prime Minister Mostafa Madbouly, SCZONE said in a statement Thursday.

In the past few months, the SCZONE signed several MoUs with private sector companies, including one with DP World in August to build a logistics zone in Sokhna.

A month earlier, it inked a deal with Toyota to establish mega projects in “logistics, renewable energy, water support, green and blue hydrogen production, and green and blue ammonia production.”