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Eversheds Sutherland advises on $80m financing of first green hydrogen facility in Egypt

  • Global
  • Middle East

    22-11-2022

    Eversheds Sutherland has advised a consortium of Scatec ASA, Fertiglobe, Orascom Construction and the Sovereign Fund of Egypt and the borrowers Egypt Green Hydrogen S.A.E. and EGH Renewable Energy S.A.E on the USD 80m financing of the first green hydrogen facility in Egypt.

    The ground-breaking project was formally launched at a ceremony this week at the COP27 conference in Sharm el-Sheikh.

    The Eversheds Sutherland team was led by Partner Indraj Mangat, and included Principal Associate Holly Suthren.

    The 100MW electrolyser facility, which will deliver up to 15,000 tonnes of green hydrogen annually, will be the first green hydrogen plant in the Suez Canal Economic Zone – and the first integrated green hydrogen facility in Africa as a whole. Once fully operational it will save 130,000 tonnes of CO2 emissions every year.

    Indraj Mangat said:

    “This is a truly landmark project – not only is it the first such facility in Egypt, signifying a clear commitment to building a low-carbon hydrogen sector, it will also demonstrate the commercial viability of green hydrogen. Showing this can be done is a significant step towards inspiring further such projects right across Africa.

    “As an international firm committed to helping our clients achieve their environmental goals, this was a fantastic project to be involved in and we are delighted to have been able to help make it a reality.”

     

    Indraj Mangat, Partner

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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