Cleary Gottlieb represented Fertiglobe PLC (Fertiglobe) in its milestone investment in Africa’s first integrated green hydrogen plant, Egypt Green, marking an important step toward meeting the Paris Climate Agreement objectives.
The announcement of the commissioning of Egypt Green by Fertiglobe, Scatec, Orascom Construction, and the Sovereign Fund of Egypt came on November 8, 2022, as world leaders gathered for the United Nations COP 27 Climate Change Conference in Egypt. The facility creates a regional hub for green energy. Green hydrogen, which is produced from water using renewable energy sources, has the potential to play a significant role in decarbonizing hard-to-abate sectors, such as heavy industries, power, and global shipping.
The facility is the first integrated green hydrogen plant in Africa, and when fully developed, will consist of 100 MW of electrolyzers, powered by 260 MW of solar and wind. The facility will deliver up to approximately 15,000 tons of green hydrogen as feedstock to produce up to 90,000 metric tons of green ammonia (NH3) per annum. The facility will be strategically located near the Suez Canal Economic Zone. The project will be funded, in part, through an up to $80 million facility provided by the European Bank for Reconstruction and Development (EBRD).
Fertiglobe is the world’s largest seaborne exporter of urea and ammonia combined and the largest nitrogen fertilizer producer in the MENA region. It is the first free zone company to list on a UAE stock exchange and an early mover in hydrogen and clean ammonia.