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ACWA Power and ITOCHU sign ammonia development and offtake deal

Photo: ACWA Power ACWA-Power-building.jpg
Saudi-listed ACWA Power and Japan’s ITOCHU Corporation plan to co-develop and off-take ammonia from a green hydrogen project in Egypt.

The new agreement follows the framework agreement that ACWA Power signed with the Sovereign Fund of Egypt (TSFE), the Suez Canal Economic Zone (SCZone), the Egyptian Electricity Transmission Company (EETC) and the New and Renewable Energy Authority (NREA) in December 2023 to develop the first phase of the green hydrogen project, expected to have a capacity of 600,000 tonnes-per-year of green ammonia.

The first phase of the green ammonia project powered by wind and solar plants, could develop into a larger green hydrogen project in the country which could have a capacity of up to 2 million tonnes-per-year of green hydrogen, said ACWA at the time.

Marco Arcelli, CEO of ACWA Power, commented that “we look forward to working with Itochu on the development of our Egyptian Green Ammonia project. We value their vision and their partnership, and I am confident that together we can make this project a reality.”

 “Through this collaboration with the reputable partner, ACWA Power, our initiatives to introduce low-carbon/clean ammonia to the maritime sector as an alternative zero-emission fuel will be reinforced, as this product of green ammonia will be a promising source for our ammonia bunkering hub set-up in the Suez Canal under joint development with our partner in line with the Egyptian government’s support,” said Takeo Akamatsu, General Manager of Green Innovation Business Unit from Itochu Corporation.

TAGS: Ammonia