{"id":323644,"date":"2021-10-14T11:55:44","date_gmt":"2021-10-14T11:55:44","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=323644"},"modified":"2021-10-14T11:55:44","modified_gmt":"2021-10-14T11:55:44","slug":"egypts-sovereign-fund-inks-green-hydrogen-deal-with-scatec-fertiglobe","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2021\/10\/14\/egypts-sovereign-fund-inks-green-hydrogen-deal-with-scatec-fertiglobe\/","title":{"rendered":"Egypt&#8217;s sovereign fund inks green hydrogen deal with Scatec, Fertiglobe"},"content":{"rendered":"<p>The Sovereign Fund of Egypt (TSFE) signed an agreement with Norway&#8217;s Scatec and Fertiglobe plc to develop a 50-100 megawatt (MW) green hydrogen facility as feedstock for green ammonia production.<\/p>\n<p>Fertiglobe plc is an ammonia producer jointly owned by the Netherlands-based OCI and Abu Dhabi National Oil Company (ADNOC),<\/p>\n<p>Scatec will build and operate\u00a0the facility and a long-term off-take agreement will be signed with Fertiglobe\u2019s subsidiary Egyptian Basic Industries Company (EBIC), according to a statement on Thursday.<\/p>\n<p>The facility, which will be built near EBIC in Ain Sokhna, will be\u00a0majority-owned by\u00a0Scatec, while the remaining interest will be distributed between\u00a0TSFE and\u00a0Fertiglobe. It is expected to be operational by 2024.<\/p>\n<p>\u201c<em>We are proud to establish a strong partnership with Fertiglobe and the Sovereign Fund of Egypt to move the green agenda forward in Egypt<\/em>,\u201c said\u00a0<strong>CEO of\u00a0Scatec<\/strong>,<strong> Raymond Carlsen<\/strong>.<\/p>\n<p>For his part,\u00a0<strong>Ahmed El-Hoshy, CEO of OCI N.V<\/strong>., commented: \u201c<em>Together we will deploy world-leading technology to ramp up our green ammonia production profile and further expand our low-carbon portfolio<\/em>.&#8221;<\/p>\n<p><strong>Ayman Soliman, CEO of TSFE<\/strong>, said: \u201c<em>The Sovereign Fund of Egypt is a manifestation of Egypt\u2019s 2030 Vision with the principles of sustainable development and impact investment instilled in its mandate, and this project is a cornerstone investment in our green sustainable portfolio build-up with many more to come<\/em>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0The Sovereign Fund of Egypt (TSFE) signed an agreement with Norway&#8217;s Scatec and Fertiglobe plc to develop a 50-100 megawatt (MW) green hydrogen facility as feedstock for green ammonia production.<\/p>\n","protected":false},"author":4,"featured_media":319977,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[33,21],"tags":[98],"class_list":["post-323644","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-main","category-news","tag-sovereign-fund-of-egypt"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - 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