Egypt - Norway’s Scatec has teamed up with the Egyptian Sovereign Fund of Egypt (TSFE) and Fertiglobe, a strategic partnership between Dutch OCI N.V and Abu Dhabi National Oil Company (ADNOC) to build a green hydrogen facility, Scatec revealed in a press release.
The Norwegian company will build, operate, and own the majority of the facility in Ain Sokhna through a long-term off-take agreement to be signed with Fertiglobe’s subsidiary EBIC.
This move marks the first step towards developing a green hydrogen hub in Egypt, according to the press release.
The parties taking part in the agreement will need support from the Egyptian government, as well as necessary regulatory approvals.
Engineering and development of the facility, including structuring of commercial agreements, is expected to commence in 2022, with its start-up to take place by 2024.
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