The Middle East and North Africa (MENA) region is set to become the second-largest green hydrogen electrolyser installer in 2040, this according to the latest report of Rystad Energy. Globally, close to 145 gigawatts (GW) of electrolyser capacity is lined up for installation by decade-end based on announcements as of August, of which 20 per cent will be in the MENA region, thanks to the seven new announcements from the Suez Canal Economic Zone in Egypt. By 2040, this installed global capacity is projected to double with nearly 300 GW. Europe is set to account 24 per cent of the global electrolyser capacity at this time, followed by MENA with 20 per cent. MENA aims to install over 28 GW by the end of 2030. Capacity is then set to grow at a compound annual growth rate (CAGR) of 7.7 per cent to reach 59.8 GW by 2040. Installations are lined up in the Sultanate of Oman, Egypt, Morocco, Saudi Arabia, and the UAE based on currently announced project pipeline.
The Green Energy Oman (GEO) in Al Wusta Governorate in the Sultanate of Oman is the largest announced so far in the MENA region with an annual hydrogen output of 1.75 million tonnes to be produced from an estimated 14 GW electrolyser. The green hydrogen will be used to produce 9.9 million tonnes per annum of green ammonia as end product. An international consortium comprising OQ – the integrated green energy group of the Sultanate of Oman, Intercontinental Energy (ICE) based in Hong Kong, and Enertech of Kuwait is behind the proposed development of this world-scale project, scheduled to be commissioned in 2032.
Meanwhile, Morocco's Amun project, with an annual hydrogen capacity of 0.9 million tonnes is the second largest project in the region. Guelmim-Oued Nour is currently the third largest project and will have the capacity to produce 0.71 million tonnes of green hydrogen, the report added.
Six of the next top seven projects are in Egypt and come with annual hydrogen production ranging from 0.237 million tonnes to 0.53 million tonnes. These projects are being developed by Scatec, Masdar & Hassan Allam Holding, ACME, Globeleq, H2-Industries, and K&K group. Saudi Arabia's Neom green hydrogen project, to be developed by ACWA Power, is the other big project in the top 10 with 0.23 million tonnes of annual hydrogen production capacity.
The largest green hydrogen developer in the MENA region is CWP Global with a 15% market share by 2040, meaning an estimated electrolyser capacity of 9 GW, followed by Total Eren which accounts for 10%. Further, OQ, InterContinental Energy and EnerTech have a market share of 8%, each. Other big developers in the region are Scatec (7%), ACME (7%), Globeleq (6%), K&K Group (4%), EDF (4%), Renew power (3%), Hassan Allam Holding (3%), and Tatweer (2%).