Egypt and France launch €7 billion private green hydrogen project

Egypt and France have signed a €7 billion agreement to build a privately funded green hydrogen and ammonia complex in Ras Shukeir, on Egypt’s Red Sea coast, Egyptian media report.  Led by EDF Renewables and Egypt-UAE firm Zero Waste, the project will unfold in three phases, beginning in 2029. Once complete, it aims to produce up to one million tonnes of green ammonia annually. 

The first phase, valued at €2 billion, targets annual production of 300,000 tonnes. Spanning 368 square kilometers, the project will operate entirely off-grid using solar and wind power. Supporting infrastructure includes a desalination plant, private port terminal, and electricity corridor.

Egypt’s government will provide regulatory support but no public funding. Officials say the project will generate tax revenues, boost foreign currency inflows, and create thousands of jobs—up to 95% filled by local workers. It is also expected to support green maritime fuels and localise clean energy technologies.