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Fresh financing for Egypt’s Ain Sokhna green hydrogen plant: Scatec secured a EUR 30 mn grant from the PtX Development Fund for the 100 MW, EUR 500 mn green hydrogen project it is developing with Fertiglobe, Scatec, Orascom Construction, the Sovereign Fund of Egypt, and the Egyptian Electricity Transmission Company, according to a press release. The grant adds more German federal funding to the plant, which is planned to supply Germany with 10% of its annual ammonia needs.
It’s part of a wider project to secure Europe’s green fuel needs: The EUR 30 mn grant is part of a wider EUR 270 mn project to support green hydrogen production efforts in Egypt, Morocco, South Africa, Brazil, Georgia, India, and Kenya, according to a memorandum (pdf).
Refresher: Fertiglobe, Scatec, Orascom Construction, the Sovereign Fund of Egypt, and the Egyptian Electricity Transmission Company are developing a green hydrogen plant which will produce some 13k tons of green hydrogen a year to create 70k tons of green ammonia at Fertiglobe’s ammonia plants. 270 MW of solar and wind power plants will be installed to power the plant.
More details: Fertiglobe will buy the plant’s entire production of green ammonia for the coming 20 years — marking it the world’s first long-term green ammonia purchase agreement. Fertiglobe secured a EUR 397 mn offtake agreement from the German government’s H2Global program in July to supply green ammonia to the EU from its Egyptian facilities between 2027 and 2033, following an auction.
What is the PtX Development Fund? The fund – established by Germany’s Federal Ministry for Economic Cooperation and Development and state-owned bank KfW – aims to support Power-to-X projects in developing countries. Fund first announced a call for proposals for a grant from the EUR 270 mn fund last year.
