June 3 (Renewables Now) – A tie-up of three South Korean companies has clinched a deal that will enable the construction of a green hydrogen and ammonia production plant in the UAE, the consortium members announced on Thursday.
Korea Electric Power Corp (KRX:015760), its subsidiary Korea Western Power and Samsung C&T Corp (KRX:028260) have joined hands with UAE-based Petrolyn Chemie, a partnership between Petrolyn and Chemie Tech.
Under the joint development agreement, the companies will build a plant that will initially be able to produce 35,000 tonnes of green ammonia annually and will be later scaled up to reach an output of 200,000 tonnes. The capacity will be installed within the Khalifa Industrial Zone Abu Dhabi area near Abu Dhabi in two stages.
An exact timeframe for installing each phase was not given.
The initiative is set to create a platform that will provide a business model for the technology development, investments, production, distribution and logistics of green hydrogen. According to the partners, the project will contribute to the reduction of the UAE’s carbon footprint and support the country in achieving its 2050 carbon neutrality goal.