ReNew plans green hydrogen project in Egypt, increases solar portfolio by 45%

Facebook
Twitter
LinkedIn
Reddit
Email
As of September 2022, ReNew had 3,713MW of solar assets. Image: ReNew Power.

Indian independent power producer (IPP) ReNew Power has signed an agreement with the government of Egypt to set up a green hydrogen plant that will require an investment of US$8 billion.

Planned for the Suez Canal Economic Zone, the project is scheduled to be implemented in phases, with the first to produce 20,000 tons of green hydrogen, along with derivates, and be commissioned in 2026.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

The next phase would bring the project’s total green hydrogen production capacity to 220,000 tons per year, but no timeframe was given for when that would be achieved.

ReNew Power has partnered with energy solutions provider Elsewedy Electric, which will be the local co-developer for the project.

Based on the agreement with Egypt’s government, ReNew will undertake project and site studies in the coming months and is expected to make a final investment decision over the next 12 to 16 months.

The news comes after green energy company Fortescue Future Industries unveiled plans in September to construct a green hydrogen facility in Egypt that would feature 9.2GW of solar and wind generation, while another IPP, Globeleq, is also looking to develop a green hydrogen hub in the country’s Suez Canal Economic Zone.

ReNew Power signed an agreement last year with engineering company Larsen & Toubro to develop green hydrogen facilities in India, with the pair going on to form a joint venture with IndianOil.

The Egypt announcement coincides with ReNew publishing its results for the three months ending 30 September, revealing that it had 3,713MW of commissioned solar at the end of the quarter, a 45% increase year-on-year.

The company’s revenue during the quarter reached INR22,409 million (US$275 million), a 5.1% jump year-on-year, while it posted a net loss of INR986 million, compared to a net loss of INR6.6 billion in the same quarter last year.

“The core operations of the company continue to execute as expected this year and our continued access to affordable capital are enabling the company to capitalise on significant growth opportunities,” said ReNew CEO, Sumant Sinha.

During the reporting quarter, ReNew secured financing with 12 lenders for a “round-the-clock” renewable energy project in India that will feature 900MW of wind, 400MW of solar PV and battery energy storage.

ReNew revealed yesterday it is acquiring shares in 3E, a renewable energy asset performance management and analytics platform that has about 20GW of contracted capacity under management.

Read Next

September 3, 2025
LONGi, Jinko Solar, Trina Solar and JA Solar posted combined net losses of nearly RMB11 billion (US$1.54 billion) in H1 2025.
September 2, 2025
Swedish independent power producer (IPP) OX2 has appointed Matthias Taft as its new chief executive officer.
August 29, 2025
Independent power producer (IPP) Verano Energy has closed a US$204 financing for a 83MW/660MWh solar-plus-storage project in Chile.
August 28, 2025
Bahraini, Chinese, Egyptian and Emirati groups have agreed to develop a new solar and storage manufacturing facility in Egypt
August 28, 2025
JinkoSolar has sold 41.8GW of PV modules in the first half of the year, despite growing financial losses for its manufacturing subsidiary.
August 26, 2025
Daqo New Energy has posted gross losses of US$81.4 million in Q2 2025, up from losses of US$81.5 million in Q1.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines