Original disclosure @ EBRD website
Updated in EWS Mar 21, 2023
Disclosed by Bank Mar 15, 2023
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According to the EBRD, the project consist in the provision of up to USD 80 million equity bridge loan to Egypt Green Hydrogen S.A.E, an Egypt domiciled company established for the purpose of developing and operating the first green hydrogen production facility in Egypt.
The Loan will support funding the procurement and construction of a 100 MW electrolyser facility together with the related facilities and civil works needed for the completion of the project. The Electrolyser, which will be powered by renewable energy, will produce green hydrogen that will substitute some of the grey hydrogen (i.e. produced from gas) consumption used by the Egyptian Fertilizer Company (the Offtaker and a subsidiary of the regional fertiliser producer, Fertiglobe PLC) and will be used as input to produce green ammonia which will be exported to the international markets. Being the first project of its kind in Egypt, the Project will lead to a significant demonstration effects and will be an important milestone in the development of a green hydrogen and ammonia industry in Egypt which is a key step towards decarbonising several industries, particularly fertilisers - a main consuming industry for ammonia.
From the EBRD's website:
Egypt Green Hydrogen SAE is an Egyptian company established in the Suez Canal Economic Zone for the purpose of the Project, and is owned by: (i) Scatec ASA the leading Norwegian renewable power producer listed on the Oslo Stock Exchange; (ii) Fertiglobe PLC, the largest nitrogen fertilizer producer in the MENA, based in Abu Dhabi and listed on the Abu Dhabi Securities Exchange; (iii) Orascom Construction PLC, one of the largest global contractors operating in the MENA region and the US with dual listing on NASDAQ Dubai and Egyptian stock exchange; and (iv) the Sovereign Fund of Egypt's (established in 2018) through its Infrastructure and Utilities Fund.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|-||-||-||-||Egyptian Fertilizer Company||Subsidiary||Agriculture and Forestry|
|-||-||-||-||Fertiglobe PLC||Investor||Agriculture and Forestry|
|-||-||-||-||Orascom Construction S.A.E||Investor||Construction|
Client - Egypt Green Hydrogen S.A.E.:
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