Egypt Green Hydrogen S.A.E (EGH) has secured an equity bridge loan of up to USD 80 million to develop and operate the first green hydrogen production facility in Egypt from EBRD.
The borrower will construct a 100 MW electrolyser facility to produce green hydrogen, powered by renewable energy, that will substitute the grey hydrogen consumed by the Egyptian Fertilizer Company. The green hydrogen will then be used to produce green ammonia, which will be exported to international markets.
EGH is owned by Scatec ASA, Fertiglobe PLC, Orascom Construction PLC, and the Sovereign Fund of Egypt’s Infrastructure and Utilities Fund. The loan will finance the procurement and construction of the electrolyser and the related facilities and civil works.
The project will lead to significant demonstration effects and will be an important milestone in the development of a green hydrogen and ammonia industry in Egypt, decarbonising several industries, particularly fertilizers, which are the main consuming industry for ammonia. The project is the first of its kind in Egypt, and the loan is the first of its kind for the European Bank for Reconstruction and Development (EBRD).