“Baseless” was how an Egyptian power company described media reports of its proposal to merge solar energy schemes with hydrogen projects.
AMEA Power, a subsidiary of Al Nowais Investments, was reported to have proposed to the Ministry of Electricity and Renewable Energy a merger of solar energy projects with green hydrogen production.
AMEA Power quashed such a report on the grounds that the hydrogen projects will be implemented by the Abu Dhabi Investment Fund in Egypt.
The company said in a statement of rebuttal that it is working with the Ministry of Electricity in accordance with proper, legally binding contracts.
The contracts were concluded after exhaustive government studies on the possibilities of economic development with the help of renewable energy wind, the firm’s statement added.
AME Power chiefs called on the media to check news reports in order to avoid doubt and confusion regarding company transactions.
The firm said its dealings with the Ministry of Electricity are in an atmosphere of transparency with a view to blocking any media speculation.
