Letter on hydrogen: Chasing Africa’s green prize
BP has joined the international push to try to unlock North Africa’s potential as a major green hydrogen producer and exporter
The race is on to unlock North Africa’s vast potential as a low-cost green hydrogen supplier. The latest big hitter to enter the fray is BP. The London-based oil and gas major has agreed to take on the role of main developer and operator of a potential large-scale project in Egypt, as part of a consortium comprising UAE renewables firm Masdar, Egypt’s Hassan Allam Utilities and Masdar joint venture Infinity Power. The consortium has signed a framework agreement with the Egyptian government to start feasibility studies. BP’s decision to join the consortium makes a lot of sense, given the company’s existing footprint in Egypt, where it has invested about $35b over the last 60 years. Together w
Also in this section
17 January 2025
Bank’s UK arm signs first deal to finance a green hydrogen developer, but cost and offtake pressures mean the sector remains too risky for many lenders
15 January 2025
The country’s technology-neutral position and competitive business environment mean it is looking to be surfing the second wave of the energy transition while others are still grappling with the first
14 January 2025
With abundant wind and sunshine, Africa is poised to lead in green hydrogen production. Yet high costs and financing challenges require global partnerships to unlock the continent's potential
14 January 2025
The continent’s largest economy sees an opportunity to join the global export market, but funding gap and lack of regulatory framework present challenges
