Danish shipping company Maersk is set to acquire a 51% stake in the Zafarana wind project, a 545 MW wind farm in Egypt. This acquisition is part of Maersk’s broader initiative to establish a $15 billion green methanol network along the Suez Canal. The move comes after CEO Søren Skou met with Egyptian President Abdel Fattah al-Sisi, solidifying plans for this significant investment.
The strategic investment aims to produce and distribute green methanol, a fuel with the potential to reduce emissions from shipping. The methanol can be produced using biomass gasification or hydrogen derived from renewable electricity and captured carbon dioxide. Maersk has already taken steps towards utilizing green methanol by ordering container vessels capable of running on this eco-friendly fuel.
The acquisition of the Zafarana wind project is a significant step for Maersk in its commitment to sustainability and reducing emissions. By establishing a green methanol network, the company aims to contribute to the global efforts to combat climate change and transition to more sustainable energy sources. This investment aligns with Maersk’s long-term goal of becoming carbon-neutral by 2050.
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