It’s official: The Sovereign Fund of Egypt (SFE) signed a project agreement to launch the Orascom Construction, Scatec, and Fertiglobe to launch the 100 MW of green hydrogen plant Ain Sokhna plant, according to a statement. Under the agreement, Fertiglobe will buy the plant’s entire production of green ammonia for the coming 20 years — marking the world’s first long-term green ammonia purchase agreement.

By the numbers: The plant will produce 13k tonnes of green hydrogen per year which will be converted to 70k tonnes of ammonia for transport, SFE CEO Ayman Soliman said in the statement. The consortium is also establishing solar and wind plants with a 270 MW capacity, Soliman added.

REFRESHER- The plant kicked off a trial phase in November 2022 and Fertiglobe sent its first green ammonia shipment to India from the plant last November. The company did not specify the value of the transaction, but the shipment was the world’s first to carry an ISCC Plus certification, Fertiglobe said at the time.

MORE DETAILS ON ANNOUNCED PROJECTS-

BP is joining the gang: BP has signed a Joint Development Agreement (JDA) with Infinity Power, Hassan Allam Utilities, and Masdar to explore establishing a multi-phase green hydrogen in Egypt, according to a statement (pdf). Under the agreement, BP would serve as the main developer and operator of the proposed project which will focus on exports. The consortium signed a framework agreement with the Egyptian government at the Egypt-EU Investment conference to begin technical and commercial feasibility studies. The companies will also combine their existing green hydrogen projects under the new JDA.

ON THE GREEN FINANCE FRONT-

Egypt signed a grant agreement with the EU for access to the EUR 292 mn Interreg Next Med cross-border cooperation program for 2021-2027, according to a statement. The program includes support for green energy, construction, and emissions reductions for the Mediterranean Basin. Egypt will be one of 15 countries to benefit.

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