Energy giant BP and a consortium of renewable energy and utility companies, Masdar, Hassan Allam Utilities, and Infinity Power, signed a Joint Development Agreement (JDA) for a green hydrogen project in Egypt.

BP will lead the development and operation of the multi-phase project, which aims to produce green hydrogen and its derivatives on a large scale.

"The combined experience of the partners in energy projects presents a significant opportunity for regional cooperation and access to global markets," said Nader Zaki, BP's Regional President for the Middle East and North Africa. 

"This will fundamentally support Egypt's energy transition plans."

The consortium also signed a Framework Agreement with the Egyptian government to conduct studies on the project's technical and commercial feasibility. 

The project aligns with the government's goal of using green hydrogen to bridge the country's energy export gap.

"This agreement reinforces Masdar and the UAE's commitment to collaborating with Egypt to realize its significant potential for clean energy and green hydrogen," stated Abdelqader El Ramahi, Chief Green Hydrogen Officer at Masdar.