Scatec ASA's Egypt Green Hydrogen project, in collaboration with partners Fertiglobe, Orascom Construction, The Sovereign Fund of Egypt, and the Egyptian Electricity Transmission Company, has achieved a significant milestone by securing a green ammonia offtake agreement with Hintco in Germany through the first-ever H2Global auction. The agreement, signed at the Egypt-EU Investment Conference, marks a crucial step in advancing sustainable ammonia production in Egypt's Ain Sokhna. The project involves developing a 100 MW electrolyser facility to produce renewable hydrogen for the production of renewable ammonia at Fertiglobe's plant. With Scatec as the lead developer, the project is set to deliver around 13,000 tonnes of renewable hydrogen and up to 74,000 tonnes of renewable ammonia annually, powered by 270 MW of solar and wind capacity. Key financial institutions such as EBRD, EIB, DEG, BII, and DFC are providing financing to support the project, aiming to reach financial close in the first half of 2025. The project's success is attributed to Egypt's abundant renewable energy resources and its strategic geographical location. The partnership's goal is to establish Egypt as a regional green hydrogen hub, showcasing the country's potential as a leader in renewable energy generation and sustainable technology in Africa. Various stakeholders, including government entities and financial institutions, are actively supporting the project's development, highlighting the global interest in advancing green hydrogen production and creating a more sustainable future.