Alfanar has signed a memorandum of understanding (MoU) with the general authority of the Suez Canal Economic Zone (SCZone), Sovereign Fund of Egypt (TSFE), Egyptian Electricity Transmission Company (EETC) and the New and Renewable Energy Authority (NREA), aiming to develop a green ammonia facility in Sokhna
The US$3.5bn project will use renewable energy sources and produce 500,000 tons of green ammonia from 100,000 tonnes of green hydrogen per year.
Sabah Al-Mutlaq, chairman of board of directors of Alfanar Global Development, stated, ?We have enjoyed a long-standing relationship with Egypt and are thrilled to partner with such esteemed organisations of national importance on this programme. Through this agreement, we will be developing a project to produce green hydrogen and green ammonia.?
Alfanar has enjoyed a strong presence in Egypt for many years through its design and energy industry as well as renewable energy development projects. It was one of the first companies across the globe to operate a 50MW solar project in the Benban Solar Park in the Aswan region of Egypt. The electricity generated from this solar plant currently offsets around 57,000 tonnes of carbon dioxide emissions per year.