Al Fattan Energy, a UAE-based company, and LTechUVC (a Korean renewable energy developer) have joined forces to create a special purpose corporation or SPC. The SPC, called ALFATTAN LtechUVC Green Energy, will manage the development of a 200MW green hydrogen and ammonia facility. It is estimated that the project will cost approximately $400 million. The KEZAD (provisional), Abu Dhabi’s largest industrial area, will host the project.
The SPC will collaborate with Korean companies that have expertise in this field. LTechUVC is leading “Team Korea”. This initiative aims to produce large amounts of green hydrogen and ammonia, with the end goal of reducing greenhouse gas emissions.
Al Fattan Holding Investment’s subsidiary Al Fattan Energy brings extensive experience in the fields of nuclear, gas, oil, and renewable energy engineering. LTechUVC is a consultancy company that specializes in the hydrogen-based energy business. A 20MW hydrogen fuel cells project will be under construction by May this year.
With the support of major UAE Government institutions and the possible establishment of business relationships, the investment by both sides in hydrogen production marks the first step towards the development of hydrogen technology in the UAE. Korea is one of the top three ammonia importers in the world. It recently decided to promote green ammonia mixed-combustion power generation in coal-fired power stations to reduce greenhouse gas emissions.
On March 17, 2023, the ALFATTAN LtechUVC Green Energy SPC was officially inaugurated. This project marks an exciting new stage in the development of ammonia and green hydrogen technology. It is expected to draw significant interest from businesses and investors across the UAE.