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ACWA Power and ITOCHU Collaborate on Egypt's Green Ammonia Project
Key Ideas
  • ACWA Power and ITOCHU signed an agreement to co-develop and offtake ammonia from ACWA Power's green hydrogen project in Egypt.
  • The collaboration aims to introduce low-carbon/clean ammonia to the maritime sector as an alternative zero-emission fuel.
  • ACWA Power's green hydrogen portfolio includes projects in Saudi Arabia, Uzbekistan, and Tunisia, with plans for significant export to Europe.
Saudi-listed ACWA Power and Japan's ITOCHU Corporation have entered into an agreement to explore the development and offtake of ammonia from ACWA Power's green hydrogen project in Egypt. The CEO of ACWA Power expressed enthusiasm for the collaboration and the potential of the Egyptian Green Ammonia project. ITOCHU Corporation highlighted the importance of green ammonia as a promising source for their ammonia bunkering hub in the Suez Canal. This partnership follows a framework agreement signed by ACWA Power with various entities in Egypt to develop the first phase of the green hydrogen project, with an initial capacity of 600,000 tonnes-per-year of green ammonia. ACWA Power also has a significant green hydrogen portfolio, including projects in Saudi Arabia, Uzbekistan, and a potential venture in Tunisia aiming to export green hydrogen to Europe. The sentiment of the article towards hydrogen is positive, emphasizing the potential for green ammonia as a clean fuel alternative.
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