Scatec ASA, along with partners ECHEM and MOPCO, has reached an agreement with Yara Clean Ammonia for renewable ammonia offtake in Egypt. This initiative involves the development of up to 480 MW of renewable energy and a 240 MW electrolyser facility to produce renewable hydrogen, which will serve as feedstock for the production of up to 150,000 tonnes of renewable ammonia annually. The project signifies a significant step towards green energy solutions and sustainable practices in Egypt. The European Investment Bank (EIB) has expressed its commitment to supporting renewable hydrogen projects by offering long-term financing for this venture, highlighting the importance of such investments in driving the renewable energy sector forward. The collaboration between the private sector partners, Scatec ASA, ECHEM, and MOPCO, reflects a shared goal to support Egypt's national low carbon hydrogen strategy and contribute to the country's ambition of becoming a leading green hydrogen hub. This partnership not only focuses on enhancing sustainability but also aims to foster innovation within the petrochemical industry. By aligning with strategic objectives and emphasizing renewable energy production, the project sets a precedent for future endeavors in the region. Overall, the agreement signifies a positive step towards a greener future, emphasizing the importance of renewable energy investments and sustainable practices in Egypt and beyond.