Scatec ASA, in collaboration with partners ECHEM and MOPCO, has reached an agreement with Yara Clean Ammonia for renewable ammonia offtake in Egypt. The project involves the development of up to 480 MW of renewable energy and a 240 MW electrolyzer facility for renewable hydrogen production. The renewable hydrogen will serve as feedstock for the production of up to 150,000 tonnes of renewable ammonia annually at MOPCO's existing ammonia production facility in Damietta, Egypt. The signing of the Heads of Terms with Yara Clean Ammonia signifies a significant step towards sustainable energy solutions in Egypt. The European Investment Bank has also shown its commitment by signing a letter of intent for long-term financing for the project, highlighting the support for renewable hydrogen and ammonia projects in the region. Partners involved in the project expressed optimism about the collaboration, emphasizing the importance of working towards Egypt's national low carbon hydrogen strategy and promoting green energy initiatives. The project not only aligns with strategic goals but also contributes to a greener future for Egypt and the global market. Overall, the partnership between Scatec ASA, ECHEM, MOPCO, and Yara Clean Ammonia showcases a strong commitment to sustainability and innovation within the renewable energy and petrochemical industry. The project aims to drive renewable hydrogen investments, de-risk project implementation, and support Egypt's vision of becoming a leading green hydrogen hub.