Three firms of South Korea – Korea Electric Power, Samsung C&T and Korea Western Power – have signed an agreement with a UAE firm Petrolyn Chemie to construct a $1bn green hydrogen and ammonia production plant in the UAE.
This plant will be able to generate annually up to 200,000t of green ammonia per year, reported Reuters.
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Green hydrogen is generated by splitting water from oxygen with the help of renewable electricity.
It will help to cut down greenhouse gas emissions.
The facility will be constructed in two phases in the KIZAD Industrial Area near Abu Dhabi.
The first phase will generate 35,000t. The second phase will take the project to its full capacity.
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By GlobalDataPetrolyn Chemie was quoted by Reuters as stating: “Participating companies will achieve their respective Net-Zero vision through the Project. They are expected to…expand the drive of future growth in the global green hydrogen market by expanded reproduction of their future business model.”
The UAE has ambitious plans for hydrogen. Last month, UAE-based renewable energy company Masdar and Indian conglomerate Reliance Industries announced their plans to explore opportunities for collaboration in green hydrogen.
In November 2021, the UAE’s Energy Minister Suhail Al-Mazrouei said that the country started constructing the first green hydrogen plant in Middle East and its testing was underway.
The country aims to capture 25% of the global hydrogen fuel market by 2030.
It also aims to reach net-zero emissions target by 2050.
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Image: The plant will be constructed in two phases in the KIZAD Industrial Area near Abu Dhabi. Credit: LEEROY Agency from Pixabay.
