Scatec ASA has today (7th March) signed an agreement with ACME Group from India to establish a 50/50 joint venture to design, develop, build, own and operate a large-scale green ammonia facility in Oman.
The facility’s first phase is expected to produce 100k tonnes/year of green ammonia with about 300 MW of electrolyser capacity and powered by 500 MW of solar. The facility will be located in the Duqm Special Economic Zone of Oman. Once fully developed, the facility is expected to produce up to 1.2 million tonnes/year of green ammonia.
Oman has excellent solar resources and a strategic location for the production of green ammonia. Acme Group has been at the forefront of green ammonia production with this project, and Scatec can capitalise on its expertise in renewables, project structuring and financing, execution and operation to accelerate the decarbonisation of the world.
The partners are in advanced discussions with reputable off-takers for 20–25-year contracts, which will lay the foundation for the project’s financing. The partners expect to fund the facility through equity and project finance debt.
Iveco Group and Hyundai Motor Company
Iveco Group and Hyundai Motor Company have signed an MoU to explore possible collaborations on shared vehicle technology, joint sourcing, and mutual supply. The two groups will start assessing the potential for cooperation in technology and platforms, encompassing components and systems. Areas of possible mutual interest pertain to electric powertrains and platforms, including fuel-cell systems, vehicle automation and connectivity for commercial vehicles.