backKing & Spalding advised (i) Scatec ASA as lead sponsor, working in partnership with Fertiglobe, Orascom Construction, The Sovereign Wealth Fund of Egypt as well as the Egyptian Electricity Transmission Company, and (ii) Egypt Green Hydrogen, the project company, (“EGH”), as international counsel on all aspects of the offtake arrangements for the sale by EGH, and the purchase by Fertiglobe, of green hydrogen-derived ammonia that qualifies under the strictest European regulatory standards. Scatec and its partners intend to produce the ammonia from a 100 MW electrolyser facility, which will source electricity from a 270 MW of solar and wind resources, located in Ain Sokhna, Egypt. Following the signing of the Ammonia Purchase Agreement at the Egypt-EU Investment Conference on 29 June 2024 in Cairo, H2Global Foundation announced on 11 July 2024 the selection of Fertiglobe as the sole winning bidder in H2Global’s pilot auction for the supply of green hydrogen into Europe. The H2Global Program will provide critical demand and pricing support for Fertiglobe’s supply commitment, which will help Fertiglobe and EGH reach a Final Investment Decision on this project.
King & Spalding advised Scatec and EGH with a team led by Kelly Malone (London) that also included Zoe Bromage (Singapore) and Fred Lazell (London).
King & Spalding currently has over 70 lawyers working on 80 low-carbon hydrogen projects and transactions worldwide. This latest milestone, being the first public procurement of intercontinental green ammonia supply at scale, comes after a King & Spalding team advised on all aspects of the US$8.4 billion NEOM Green Hydrogen Project in Saudi Arabia -- the world’s first bilateral offtake agreement for green ammonia at scale