Al Fattan Energy, and LTechUVC of South Korea sign an investment contract of $400 million for the production of green ammonia

Al Fattan Energy will join hands with LTechUVC, a company based in South Korea, to produce green hydrogen-based ammonia.

On January 19, Al Fattan Group and LTechUVC, a hydrogen-based smart city consulting company in Korea, attended Al Fattan Energy headquarters in Abu Dhabi for the official signing of a “200MW green hydrogen-based ammonia business investment contract” with AL Fattan Energy (AFE), a subsidiary of Al Fattan Holding and Investment.  

The objective of this initiative is to build a 200MW class green hydrogen and ammonia production project with a total project cost of about USD 400 million. The facility will, provisionally, be situated in KEZAD, the largest industrial complex in Abu Dhabi

This venture is a synergistic alliance that brings together the strong credentials of AFE in designing, executing, and delivering EPC projects, and the expertise of LTechUVC in offering and developing utility-scale renewable energy solutions.

Al Fattan Energy, a subsidiary of Al Fattan Holding Investment, specializes in nuclear, oil & gas and renewable energy engineering in the MENA (Middle East and North Africa) region.

LTechUVC is a consulting company specializing in hydrogen-based energy businesses, with a 20MW hydrogen fuel cell project due to start construction in May this year. .

Green hydrogen refers to hydrogen produced using renewable energy, and green ammonia is synthesized using green hydrogen as a feedstock.

Korea is one of the world’s top three ammonia importers. Recently the Korean government has decided to promote green ammonia mixed combustion power generation in coal and gas-fired power plants to achieve ‘zero greenhouse gas emissions’ by 2050.

Al Fattan Energy CEO said, “At a time when the interest in eco-friendly energy is high worldwide, we strive to establish ourselves as a leader in the global hydrogen economy together with Korean companies with technological prowess.”