Egypt Green Hydrogen S.A.E. (EBRD-53558)

Countries
  • Egypt
Geographic location where the impacts of the investment may be experienced.
Specific Location
Suez Canal Economic Zone
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Oct 19, 2022
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Egypt Green Hydrogen S.A.E.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 80.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 80.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Other Related Projects
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jan 22, 2024

Disclosed by Bank Mar 15, 2023

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

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.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

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
- - - - Scatec ASA Investor Energy

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Client - Egypt Green Hydrogen S.A.E.:

Mohamed Amer
Email: Mohamed.Amer@scatec.com

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.

You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en

You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html

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