Thought to be a first step towards a wider green hydrogen hub in Egypt, the plant will produce green hydrogen as a feedstock for green ammonia production.
Scatec will build, own and majority own the facility and a long-term off-take agreement will be entered into with Fertiglobe’s subsidiary EBIC.
Fertiglobe is jointly owned by OCI N.V. and Abu Dhabi National Oil Company (ADNOC), and The Sovereign Fund of Egypt (TSFE).
On the plans Raymond Carlsen, CEO of Scatec, said, “We are proud to establish a strong partnership with Fertiglobe and the Sovereign Fund of Egypt to move the green agenda forward in Egypt.
“The development of this green hydrogen project builds on our long experience in project development, financing and delivery of renewable energy projects in emerging markets.
“New business models and innovation have been at the core of Scatec since our inception, and we see green hydrogen as a natural part of our strategy and the renewable ecosystem in the years to come.”
Unveiling development plans, the duo said the project will be realising in close cooperation with hydrogen technology providers and multilateral development institutions for financing.
Ahmed El-Hoshy, CEO of OCI N.V., said, “We are pleas to partner with Scatec, a leader in the global renewables market and Egypt’s largest renewable power developer.
“Together, we will deploy world-leading technology to ramp up our green ammonia production portfolio and further expand our low-carbon portfolio.
“Fertiglobe is increasingly becoming an ideal springboard to capture the huge growth opportunities offered by the hydrogen economy. The participation of the Sovereign Fund of Egypt underlies Egypt’s commitment to become a global leader in the renewables space.”
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