Yara Clean Ammonia and partners launch major renewable ammonia project
Yara Clean Ammonia, the world’s largest trader and distributor of ammonia, has signed a Heads of Terms agreement with Scatec ASA, the Egyptian Petrochemicals Holding Company (ECHEM), and Misr Fertilizers Production Company (MOPCO) for the offtake of renewable ammonia from Egypt.
Scatec and its partners ECHEM and MOPCO had previously entered into a joint development and shareholder agreement to produce renewable ammonia. The project involves developing up to 480 MW of renewable energy and a 240 MW electrolyzer facility for renewable hydrogen production, to be used as feedstock at MOPCO’s facility in Damietta, Egypt, targeting an annual production capacity of 150,000 tonnes of renewable ammonia.
In addition, Scatec has signed a letter of intent with the European Investment Bank (EIB) for long-term financing, highlighting the EIB’s commitment to supporting renewable hydrogen and ammonia projects in Egypt.
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