| Project Detail |
Location:
Egypt
Project number:
53558
Business sector:
Manufacturing and Services
Notice type:
Private
Environmental category:
B
Approval date:
19 Oct 2022
Status:
Signed
PSD disclosed:
15 Mar 2023
Provision of up to USD 80 million equity bridge loan (the "Loan") to Egypt Green Hydrogen S.A.E (the "Borrower"), an Egypt domiciled company established for the purpose of developing and operating the first green hydrogen production facility in Egypt.
Project Objectives
The Loan will support funding the procurement and construction of a 100 MW electrolyser facility together with the related facilities and civil works needed for the completion of the project (the "Electrolyser" or the "Project"). The Electrolyser, which will be powered by renewable energy, will produce green hydrogen that will substitute some of the grey hydrogen (i.e. produced from gas) consumption used by the Egyptian Fertilizer Company (the Offtaker and a subsidiary of the regional fertiliser producer, Fertiglobe PLC) and will be used as input to produce green ammonia which will be exported to the international markets. Being the first project of its kind in Egypt, the Project will lead to a significant demonstration effects and will be an important milestone in the development of a green hydrogen and ammonia industry in Egypt which is a key step towards decarbonising several industries, particularly fertilisers - a main consuming industry for ammonia. |
