OCI sheds global methanol business for USD 2bn
Sep 09, 2024 18:21 CESTHyphen Hydrogen Energy (Pty) Ltd, the preferred bidder for the development of a USD-10-billion (EUR 9.1bn) green hydrogen project in Namibia, has signed a pact that enables the future imports of green ammonia into northwestern Europe through the Port of Rotterdam.
The company said on Tuesday it has sealed a Letter of Intent (LoI) with Koole Terminals, a liquid bulk storage company developing an import terminal at the Port of Rotterdam. The pact covers the import of green ammonia via the Dutch firm’s new facility.
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The MoU adds to similar arrangements with potential European customers envisaging the supply of up to 750,000 tonnes of green ammonia per year. Hyphen will target to make the first deliveries to Europe by early 2028.
Planned to be developed in phases within the Tsau //Khaeb National Park, the green hydrogen complex will initially involve the addition of 5 GW to 6 GW of renewable energy capacity to power 3 GW of electrolysers. The site is planned to go online by end-2027 and produce one million tonnes of green ammonia annually, with its capacity to be doubled by 2029.
In February, Hyphen unveiled two non-binding off-take pacts for green ammonia deliveries of up to 750,000 tonnes a year.
(USD 1.0 = EUR 0.905)
OCI sheds global methanol business for USD 2bn
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