bursa escort ankara escort adana escort manavgat escort eskişehir escort malatya escort diyarbakır escort urfa escort şişli escort avcılar escort sarıyer escort şişli escort mecidiyeköy escort beşiktaş escort pendik escort maltepe escort ataşehir escort kadıköy escort çeşme escort konya escort beylikdüzü escort esenyurt escort ankara escort mezitli escort manavgat escort konya escort antalya escort diyarbakır escort esenyurt escort

Scatec obtains permits to develop large-scale Green Ammonia plant in Egypt

EGYPT – The Norwegian energy company Scatec has just signed agreements with the Egyptian authorities for the construction of a green ammonia plant in Ain Sokhna.

Scatec is a leading renewable power producer, delivering affordable and clean energy worldwide.
The company is making progress in the implementation of its hydrogen and green ammonia production project in Egypt after getting approval from the country’s authorities.

The green hydrogen and ammonia facility will be located in the SCZONE in Ain Sokhna Industrial Zone and will be powered by renewable energy plants to be built in close proximity to an area of land allocated by NREA.

The facility will be capable of producing one million tons of ammonia per year, with the potential to expand to 3 million tons per year.

This is the first large-scale project for the production of green ammonia in the country, which also includes the participation of the Government of Egypt and is a demonstration of the country’s pledge to maximize low carbon and green energy production.

It is expected that the Sovereign Wealth Fund of Egypt (TSFE) will take an active part in the construction of the future plant.

This partnership reinforces the fund’s commitment to invest in the entire energy transition value chain, in line with Egypt’s roadmap towards zero-emission targets,” said Ayman Soliman, the managing director of the TSFE.

This is an attractive investment opportunity for a global player like Scatec to develop a state-of-the-art green ammonia plant, taking advantage of Egypt’s well-developed natural resources and infrastructure.”

The project already involves Egyptian flagship Orascom Construction, as well as Fertiglobe, an ammonia producer jointly owned by OCI N.V and Abu Dhabi National Oil Company (ADNOC).

Scatec will leverage its expertise in renewables, project structuring, and financing, as well as execution and operation to help establish a green energy hub and green corridor in Egypt.

Once developed, Scatec intends to implement the project in phases based on Scatec’s integrated business model.

Long-term offtake agreements will be secured to enable non-recourse project financing for the green ammonia.

The green ammonia will mainly be exported to European and Asian markets, where demand for clean ammonia is increasing rapidly.

Liked this article? Subscribe to DealStreet Africa News, our regular email newsletter with the latest news, deals, and insights from Africa’s business, economy, and more. SUBSCRIBE HERE

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.