| Work Detail |
The European Bank for Reconstruction and Development (EBRD) will provide a $80 million equity bridge loan to Egypt Green Hydrogen SAE to develop and operate the first green hydrogen production facility in Egypt.
The loan will fund the procurement and construction of a 100MW electrolyser facility, together with related facilities and civil work in in Ain Sokhna, Egypt. The Electrolyser, which will be powered by renewable energy (from 260MW of wind and solar), will produce green hydrogen. This clean hydrogen will substitute some of the grey hydrogen consumption used by the Egyptian Fertilizer Company (the offtaker).
A subsidiary of the regional fertiliser producer, Fertiglobe PLC, the Egyptian Fertilizer Company will use the hydrogen to produce green ammonia. This green ammonia will be exported to the international market.
This project will be a significant proof of concept for and important milestone in the development of a green hydrogen and ammonia industry in Egypt. The annual green hydrogen production from the project is expected to grow to up to 15,000 ton. It should correspond to a total saving of C02 of more than 130,000 ton a year. |
