{"id":611217,"date":"2023-12-04T00:00:00","date_gmt":"2023-12-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/04\/scatec-sczone-ink-usd-1-1-bn-green-methanol-agreement\/"},"modified":"2023-12-04T00:00:00","modified_gmt":"2023-12-04T00:00:00","slug":"scatec-sczone-ink-usd-1-1-bn-green-methanol-agreement","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/04\/scatec-sczone-ink-usd-1-1-bn-green-methanol-agreement\/","title":{"rendered":"Scatec, SCZone ink USD 1.1 bn green methanol agreement"},"content":{"rendered":"

Scatec could embark on another green methanol project in Egypt:<\/strong>Norwegian renewables developer Scatec has inked a USD 1.1 bn green methanol MoU<\/a> with the Suez Canal Economic Zone (SCZone) yesterday on the sidelines of COP28 in Dubai. The agreement will help Scatec provide ships bunkering at the East Port Said Port with green fuel.<\/p>\n

In detail: <\/strong>The methanol will be produced using a 190 MW electrolyzer that will rely on 317 MW of wind energy and 140 MW of solar energy, with the aim of producing an annual 100k tons of green methanol by 2027. <\/p>\n

This is the second Scatec project unveiled in as many days: <\/strong>On Saturday the company inked an agreement with the Egyptian Electricity Holding Company (EEHC) to build a 1-GW solar and 200-MWh battery storage project<\/a> in Egypt \u2014 the country\u2019s first. The project will be funded by the African Development Bank and will help meet energy needs during periods of heightened demand. <\/p>\n

Another green methanol project? <\/strong>Earlier this year, the Oil Ministry said that Scatec has inked an agreement<\/a> with the Alexandria National Refining & Petrochemicals Company (ANRPC) to work on a USD 450 mn green methanol plant in Damietta. The plant will initially produce 40k tons of green methanol a year, before increasing to 200k tons.<\/p>\n

SCZone wants to <\/strong>roll out green methanol<\/a><\/strong> bunkering services <\/strong>before 2027 \u2014 expanding its bunkering services after receiving requests to supply ships with green methanol and gas. The SCZone has handed out a six-month renewable license<\/a> to OCI subsidiary OCI Hyfuels, giving it the greenlight to roll out green methanol bunkering services at the East and West Port Said ports. The world\u2019s first-ever green methanol-powered container ship berthed in East Port Said<\/a> Port earlier this year.<\/p>\n

Scatec loves Egypt<\/strong>: The Norwegian developer is part of the consortium establishing Egypt\u2019s first green hydrogen plant<\/a>, and earlier this year signed early agreements to construct a USD 450 mn green methanol plant<\/a>, a 1 mn ton-per-year green ammonia plant<\/a>, and and a 3-GW electricity link<\/a> that would transport renewably-generated power from Egypt to Europe.<\/p>\n

And more is in the works<\/strong>: Scatec is constructing a 5-GW wind farm<\/a> worth some USD 5 bn in Sohag. <\/p>\n

ALSO FROM EGYPT IN COP28 -<\/strong><\/p>\n

#1-<\/strong>Egypt to join Blue Med Partnership: <\/strong>Egypt inked a letter of intent to join the Blue<\/a>Mediterranean Partnership<\/a> (BMP) \u2014 a vehicle that aims to mobilize funds and technical assistance for the southern Mediterranean region\u2019s blue economy<\/a>. The BMP will kick off operations early 2024<\/a>. (Statement<\/a>)<\/p>\n

#2- Egypt joins BESS: <\/strong>Egypt joined 10 other nations that committed to the Battery Energy Storage Systems (BESS), which aims to secure 400 GW of renewable energy by 2030 to help solve energy poverty. (Press release<\/a>)<\/p>\n

#3- Environment Minister calls for more funding: <\/strong>Developing nations need an annual USD 160 bn for climate adaptation, Environment Minister Yasmine Fouad said yesterday. (Ahram Online<\/a>)<\/p>\n

MORE GREEN NEWS FROM EGYPT-<\/strong><\/p>\n

Checking in on Benchmark Power\u2019s ammonia plant<\/strong>: The long overdue green ammonia plant courtesy of Benchmark Power International (BPI) is still happening. BPI will set up a USD 1 bn green ammonia plant in Suez, which will produce 183 tons of green hydrogen a day to produce 1k tons of green ammonia, according to a cabinet statement<\/a>. The statement didn\u2019t provide a timeline for the project.<\/p>\n

Over five years in the making:<\/strong> We first heard of the project in 2019, after BPI inked an MoU<\/a> with the state-owned El Nasr for Fertilizers & Chemical Industries. <\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt has been shut out of Western capital markets, forcing it to turn to to more unconventional sources of finance<\/p>\n","protected":false},"author":1,"featured_media":611218,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","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":[1],"tags":[6517,93,72,1361,151,573,416],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-611217","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-cop28","tag-energy","tag-enterpriseam","tag-green-methanol","tag-renewables","tag-scatec","tag-suez-canal-economic-zone","wpautop","entry"],"acf":{"mongo_id":"85faf1b5-e8ca-49c9-b104-2efc32c63c3d","order":"0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/12\/154.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Scatec, SCZone ink USD 1.1 bn green methanol agreement","related_issue":[611212],"teaser":"Egypt has been shut out of Western capital markets, forcing it to turn to to more unconventional sources of finance","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.42ad215a-5a36-47f7-a6f8-09ab45f00215.mp3"},"yoast_head":"\nScatec, SCZone ink USD 1.1 bn green methanol agreement - 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Our news cycle is going strong, with more to keep an eye on from the regional conflict and COP28. THE BIG STORY TODAY Scatec signs on to USD 1.1 bn green methanol supply agreement:Norwegian renewables developer Scatec could supply ships with\u2026","rel":"","context":"In \"COP28\"","block_context":{"text":"COP28","link":"https:\/\/enterpriseam.com\/egypt\/tag\/cop28\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/5\/1505.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":607645,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/08\/egypt-maersk-sign-green-methanol-framework-agreement\/","url_meta":{"origin":611217,"position":1},"title":"Egypt, Maersk sign green methanol framework agreement","author":"enterpriseam admin","date":"8 October 2023","format":false,"excerpt":"The project will produce 300k tons of green methanol a year initially before expanding to 1 mn tons","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/10\/324.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":606443,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/17\/maersks-new-green-fuels-venture-eyes-suez-canal-production-hub\/","url_meta":{"origin":611217,"position":2},"title":"Maersk\u2019s new green fuels venture eyes Suez Canal production hub","author":"enterpriseam admin","date":"17 September 2023","format":false,"excerpt":"Maersk goes big on green fuel \u2014 with Egypt as a production hub: Danish shipping giant AP Moller-Maersk and its parent company AP Moller Holding have established a startup that will manufacture green methanol to fuel container ships in the Suez Canal Economic Zone (SCZone), according to statements by the\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1007.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":616848,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/12\/scatecs-nagaa-hammadi-solar-plant-is-going-to-be-twice-as-big-as-we-thought-cost-usd-1-1-bn\/","url_meta":{"origin":611217,"position":3},"title":"Scatec\u2019s Nagaa Hammadi solar plant is going to be twice as big as we thought, cost USD 1.1 bn","author":"enterpriseam admin","date":"12 March 2024","format":false,"excerpt":"The project is part of EgyptAlum\u2019s plan to ramp up production, comply with global sustainability and manufacturing standards","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/877.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":615623,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/21\/scatec-to-build-1-gw-solar-plant-for-egyptalums-nagaa-hammadi-complex\/","url_meta":{"origin":611217,"position":4},"title":"Scatec to build 1-GW solar plant for EgyptAlum\u2019s Nagaa Hammadi complex","author":"enterpriseam admin","date":"21 February 2024","format":false,"excerpt":"The first 500-MW phase of the project will be completed within 18 months","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1930.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":586637,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/15\/scatec-to-partner-on-usd-450-mn-green-methanol-plant-plus-infrastructure-postponed-corn-trading-helpoo-stake-sale-evonik\/","url_meta":{"origin":611217,"position":5},"title":"Scatec to partner on USD 450 mn green methanol plant. PLUS: infrastructure postponed, corn trading, Helpoo stake sale, Evonik","author":"enterpriseam admin","date":"15 May 2023","format":false,"excerpt":"Scatec has become a key player in Egypt\u2019s green energy industry","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/803.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/611217","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=611217"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/611217\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/611212"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/611218"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=611217"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=611217"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=611217"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=611217"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=611217"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}