Hynfra triples initial investments in Ras Banas green ammonia facility

Polish renewables developer Hynfra and local consultancy Coxswains have tripled their initial investment to USD 5 bn for the first phase of their Ras Banas green ammonia facility. The project under the Egypt Amun Green Ammonia JV, had an initial investment ticket of USD 1.6 bn for the phase back in 2024, according to a statement from the Industry Ministry. The plant is now expected to come online in 2031, a year later than the original timeline.

More money, more volume: The higher initial investment tick is set to result in initial annual production volumes 4x the original plan to 400k tons of green ammonia, before rising to some 1 mn tons per year as the project scales toward its full USD 10 bn build out.

Independent energy: To power the plant, the consortium will build a 2 GW renewable energy farm — evenly split between solar and wind — to avoid relying on the national grid. Any surplus electricity generated could potentially be sold back to the national grid at pre-set prices, a government source tells EnterpriseAM. The 100 sq km project will also be supported by a port dedicated to exporting green ammonia.

Why this matters: Unlike many green hydrogen and ammonia projects that seem to be stalled due to low offtake demand, Egypt Amun officials say this project has already inked offtake contracts for buyers in Central and Eastern Europe set to generate some USD 490 mn in annual export revenue.