Arab Finance: UAE-based renewable energy company Vertiglobe has signed a contract worth €397 million with Hentco, Affiliated to the financing company H2 Global From the German government, to supply green ammonia to the European Union from its facilities in Egypt.
This move comes more than a month after Vertiglobe won the first tender in a series of tenders launched by H2Global.
The purchase agreement stipulates that Vertiglobe will supply up to 19.5 thousand tons of green ammonia annually to the European Union via H2 Global starting in 2027, rising to 397 thousand tons by 2033.
Fertiglobe will supply the green hydrogen needed to produce green ammonia through the Egypt Green Hydrogen Company — a joint venture between Fertiglobe, Orascom Construction, Norwegian SCATEC, the Sovereign Fund of Egypt, and the Egyptian Electricity Transmission Company.
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