ACWA Power, the Saudi developer, signed a $4bn deal 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), to develop a green ammonia facility in the ScZone.
The first phase of the project will produce 6000,000 tonnes of green ammonia a year, which will increase to two million tonnes annually in the second phase.
