{"id":74884,"date":"2022-11-21T01:59:00","date_gmt":"2022-11-21T01:59:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2022\/11\/21\/south-korea-to-build-a-usd-6-5-bn-hydrogen-and-ammonia-plant-in-saudi-arabia\/"},"modified":"2022-11-21T01:59:00","modified_gmt":"2022-11-21T01:59:00","slug":"south-korea-to-build-a-usd-6-5-bn-hydrogen-and-ammonia-plant-in-saudi-arabia","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2022\/11\/21\/south-korea-to-build-a-usd-6-5-bn-hydrogen-and-ammonia-plant-in-saudi-arabia\/","title":{"rendered":"South Korea to build a USD 6.5 bn hydrogen and ammonia plant in Saudi Arabia"},"content":{"rendered":"

<\/a> South <\/strong>Korea\u2019s MENA green hydrogen shopping spree continues: <\/strong>Saudi Arabia\u2019s Public Investment Fund (PIF) has inked an agreement worth some USD 6.5 bn with Korea Electric Power Corp (Kepco) and four other South Korean firms to build a hydrogen and ammonia plant, Reuters<\/a> reported on Thursday citing a source with knowledge of the agreement. The South Korean firms will build and operate the plant with investments from PIF, the newswire reports citing Kepco.<\/p>\n

The details:<\/strong> The facility is expected to have a generational capacity of 1.2 mn tons annually, the newswire quotes Kepco as saying. Construction is expected between 2025 and 2029 and will be operational for 20 years. The plant could be built in KSA\u2019s Neom, South Korea\u2019s Pulse News<\/a> reports referencing undisclosed sources.<\/p>\n

Is Acwa Power involved?<\/strong> What isn\u2019t clear as of yet is whether this is related to the 1.2 mn ton per annum Neom green hydrogen production plant<\/a>, which will be built by Acwa Power\u2019s JV with Air Products. Acwa and Kepco had signed an agreement last month<\/a> that would see them \u201cpartner\u201d on a number of hydrogen projects across MENA. The Korean utilities provider wants to source 5-10 mn tons of green ammonia produced from green hydrogen for power generation by 2030, Kepco said at the time. We\u2019re reaching out to the Saudi utilities giant for comments.<\/p>\n

WE\u2019RE NOT DONE WITH ACWA JUST YET-<\/strong><\/p>\n

The Tadawul-listed company will work on an ammonia and <\/strong>green hydrogen facility in Thailand<\/strong>, the Bangkok Post<\/a> reports. The project will be carried out by Thai state-owned energy company PTT Plc<\/a> and the Electricity Generating Authority of Thailand<\/a> is carrying out work on the project alongside Acwa Power. Thailand and Indonesia are two markets the Saudi renewable energy company is shooting to expand as part of its global expansion, Acwa CEO Paddy Padmanathan said last month<\/a>.<\/p>\n

Meanwhile, Acwa\u2019s partner on the Neom plant,<\/strong> Air Products, may export larger quantities <\/strong>of the region\u2019s hydrogen to Germany. <\/strong>The US-based company and German-based Mabanaft<\/a> will build a green hydrogen terminal in Germany to facilitate imports, according to a company statement<\/a>. The project is aiming to be operational by 2026 and will be located in Hamburg\u2019s port, facilitating the import of green ammonia from large-scale green hydrogen production facilities operated by Air Products and its partners \u2014 including Acwa Power and Neom<\/a>. The EU is looking to secure a supply of 20 mn tons of renewable hydrogen<\/a> by 2030.<\/p>\n

IN OTHER <\/strong>GREEN HYDROGEN NEWS- <\/strong><\/p>\n

Saudi Arabia\u2019s <\/strong>Al-Fanar<\/a><\/strong> will invest USD 1.8 bn in the first phase of a <\/strong>USD 4 bn <\/strong>green <\/strong>ammonia <\/strong>plant in Egypt\u2019s Suez Canal Economic Zone, <\/strong>according to a Daily News Egypt<\/a> interview with group CIO Mishaal Al-Mutlaq last week. The company inked the MoU<\/a> with the Sovereign Fund of Egypt, the Egyptian Electricity Transmission Company and the New and Renewable Energy Authority in August. Phase 1 of the plant will yield 250k tons of green ammonia by 2025, Al-Mutlaq says.<\/p>\n","protected":false},"excerpt":{"rendered":"

South Korea\u2019s MENA green hydrogen shopping spree continues: Saudi Arabia\u2019s Public Investment Fund (PIF) has inked an agreement worth some USD 6.5 bn with Korea Electric Power Corp (Kepco) and four other South Korean firms to build a hydrogen and ammonia plant, Reuters reported on Thursday citing a source with knowledge of the agreement. The […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[269],"tags":[384,249,11,39,159,299],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-74884","post","type-post","status-publish","format-standard","hentry","category-green-hydrogen","tag-ammonia","tag-energy","tag-enterpriseclimate","tag-green-hydrogen","tag-saudi-arabia","tag-south-korea","wpautop","entry"],"acf":{"mongo_id":"21ce193c-0194-41cf-b695-c6667585bcb6","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[74874],"teaser":"","voice_url":""},"yoast_head":"\nSouth Korea to build a USD 6.5 bn hydrogen and ammonia plant in Saudi Arabia - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/21\/south-korea-to-build-a-usd-6-5-bn-hydrogen-and-ammonia-plant-in-saudi-arabia\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Korea to build a USD 6.5 bn hydrogen and ammonia plant in Saudi Arabia\" \/>\n<meta property=\"og:description\" content=\"South Korea\u2019s MENA green hydrogen shopping spree continues: Saudi Arabia\u2019s Public Investment Fund (PIF) has inked an agreement worth some USD 6.5 bn with Korea Electric Power Corp (Kepco) and four other South Korean firms to build a hydrogen and ammonia plant, Reuters reported on Thursday citing a source with knowledge of the agreement. 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