ACWA Power, Itochu mull implementation of green hydrogen, ammonia project in Egypt

ACWA Power Co. signed an agreement with Japan’s Itochu to explore ways of cooperation to establish the former’s green hydrogen production plant in Egypt and to purchase the green ammonia produced by this plant.

The project’s first phase will see an annual production capacity of up to 600,000 tons of green ammonia. There is a plan to expand the second phase with a production capacity of two million tons annually, the utility said today, June 5, in an emailed statement to Argaam.

Under this agreement, ACWA Power and Itochu will team up to assess the feasibility of participating in the implementation of the project in terms of engineering, procurement, and construction work, as well as selecting relevant stakeholders.

The two parties will also study the possibility of Itochu purchasing the green ammonia that will be produced by ACWA Power’s plant in Egypt, the statement added.

In December 2023, the Saudi utility signed a framework agreement with The Sovereign Fund of Egypt, the Suez Canal Economic Zone, the Egyptian Electricity Transmission Co., and the New and Renewable Energy Authority (NREA) in Egypt to embark on the first phase of the green hydrogen plant, Argaam earlier reported.