The Clap
Elsewedy Electric (SWDY) has entered into a partnership with NASDAQ-listed renewable energy company “ReNew Energy” to work on a green hydrogen project.
What
The agreement, which is not yet final, would see the two companies working with the Egyptian government to “develop, finance, construct, operate & maintain” the project.
So what
The facility would be completed over three stages, & is expected to produce 220,000 tons of green hydrogen by the third stage.
Now what
The final decision on the project will come within the next 12-16 months, with the project’s first stage expected to be completed by 2026.
