Egypt Green project secures European Investment Bank funding, FID approaches

€90 million investment in Egypt’s power, €35 million direct to project developer Scatec

Click to learn more. The Scatec-led Egypt Green project has been awarded €35 million by the EU, with the project closing in on FID.

At a high-level government summit in Egypt this month, the European Union signed two grant agreements to boost the development of renewable hydrogen and ammonia. To be managed by the European Investment Bank, Egyptian state media reports a €90 million investment towards Egypt’s power grid and build out of renewable energy capacity, as well as a €35 million grant to Norwegian company Scatec for its under-development renewable ammonia project in Ain Sokhna – Egypt Green.

The Egypt Green project consortium also includes Orascom Construction, The Sovereign Fund of Egypt (TSFE), and Fertiglobe. A 100 MW electrolyser facility will produce renewable hydrogen feedstock, then piped straight to Fertiglobe’s existing, conventional ammonia production facilities in Ain Sokhna (EBIC), producing up to 74,000 tons per year of renewable ammonia. At least 40,000 tons of this yearly renewable volume is committed to be exported to the Port of Rotterdam between 2027 and 2033, subsidised under H2Global’s first pilot auction. Fertiglobe indicates that it will make a final investment decision about Egypt Green in the coming months.

The Egyptian state has adopted an ambitious vision for the energy sector through to 2040, based on expanding renewable energy sources, improving energy efficiency, and maximising the use of diverse resources, thereby enhancing Egypt’s position as a regional energy hub in the Eastern Mediterranean and supporting the achievement of the Sustainable Development Goals.

The transformation of the energy sector is a key part of the national narrative for comprehensive development, which links economic policies, investment in human capital, strengthening the role of the private sector and the green transition, ensuring inclusive and sustainable growth and enhancing the resilience of the Egyptian economy to global shocks. Egypt’s commitment to the energy transition is long-term, based on partnership, innovation and sustainable investment to achieve economic development.

Minister of Planning, Economic Development and International Cooperation Rania El-Mashat, in the Egyptian State Information Service’s official press release, 10 Feb 2026

Fertiglobe recently partnered with Covestro (themselves both ADNOC subsidiaries) to collaborate on the supply of CCS and renewable ammonia from production sites in Egypt (including Egypt Green) and the UAE to global chemical manufacturing locations.