ReNew Power signed an agreement with the government of Egypt to set up a green hydrogen plant in the Suez Canal Economic Zone with an investment of $8 billion and a targeted annual production of 220,000 tons of green hydrogen. The project is scheduled to be implemented in phases. The first phase is a pilot phase to produce 20,000 tons of green hydrogen, along with derivatives, annually. In the next phase, the production of 200,000 tons per year of green hydrogen, along with derivatives, will be achieved, thereby bringing the project’s total green hydrogen production capacity to 220,000 tons per year. The pilot phase project is expected to be commissioned in 2026.