State-owned Israel Electric Corp (IEC) (ISECO.UL) and UAE-based sustainable investment firm Energroup signed a preliminary deal to develop blue and green hydrogen generation in Israel, the companies said on Sunday.
No financial details were disclosed.
Under the agreement, the groups will collaborate on the sourcing, development, implementation and operation of green and blue hydrogen projects.
Israel and the UAE normalised relations in 2020 and that has led to a economic cooperation between the two countries.
