Scatec, ANRPC to co-develop USD-450m green methanol plant in Egypt
The signing ceremony for Egypt's first green methanol project. Source: Egypt’s Ministry of Petroleum and Mineral Resources.
Norway-based renewables developer Scatec ASA (OSL:SSO) and Alexandria National Refining and Petrochemical Company (ANRPC) have signed a joint development agreement for a USD-450-million (EUR 416m) green methanol project in Egypt.
The planned facility will be built in the port of Damietta and will have the initial capacity to produce some 40,000 tonnes of green methanol per year. Eventually, the plant could be expanded to a 200,000-tonne-per-year capacity, according to an announcement on Sunday by Egypt’s Ministry of Petroleum and Mineral Resources.
The project, the first of its kind in the Middle East, will be executed in cooperation with Egyptian Bioethanol Company (EBIOL). It will involve the deployment of at least 40 MW of solar plants and 120 MW of wind farms to feed electricity to a 60-MW electrolyser for green hydrogen production. A seawater desalination plant and methanol production and storage facilities will also be built.
As the ministry stated, the project will place Egypt on the global map of nations that produce green fuel for the shipping industry.