GlobeNewswire by notified

Scatec partners with Fertiglobe and the Sovereign Fund of Egypt to develop green hydrogen as feedstock for ammonia production in Egypt

Share

Oslo, 14 October, 2021: Scatec has entered into an agreement with Fertiglobe plc, a leading ammonia producer jointly owned by OCI N.V. and Abu Dhabi National Oil Company (ADNOC), and The Sovereign Fund of Egypt (TSFE), to jointly develop a 50-100MW green hydrogen facility as feedstock for green ammonia production.

Scatec will build, operate and majority own the facility and a long-term off-take agreement will be entered into with Fertiglobe’s subsidiary EBIC. The facility will be located near EBIC in Ain Sokhna and is the first step towards developing a green hydrogen hub in Egypt.

“We are proud to establish a strong partnership with Fertiglobe and the Sovereign Fund of Egypt to move the green agenda forward in Egypt. The development of this green hydrogen project builds on our long experience in project development, financing, and delivery of renewable energy projects in emerging markets. New business models and innovation have been at the core of Scatec since our inception, and we see green hydrogen as a natural part of our strategy and the renewable ecosystem in the years to come,“ says CEO Raymond Carlsen.

This new partnership forms part of Scatec’s strategic initiative, “Power to X”, with the objective of enabling and realising industrial projects that contribute to reducing the carbon emissions through the provision of competitive renewable energy. The ambition is to develop long term partnerships where Scatec can capitalise on its expertise in renewable project development in high growth markets globally. Renewable technology, long term off-take contracts, equity co-investments and project financing from multilateral finance institutions represent key elements of this strategy.

Ahmed El-Hoshy, CEO of OCI N.V., commented: “We are pleased to partner with Scatec, a leader in the global renewables market and Egypt’s largest renewable power developer. Together we will deploy world-leading technology to ramp up our green ammonia production profile and further expand our low-carbon portfolio. Fertiglobe is increasingly becoming an ideal springboard to capture the huge growth opportunities offered by the hydrogen economy. The participation of the Sovereign Fund of Egypt underlines Egypt’s commitment to become a global leader in the renewables space.”

Ayman Soliman, CEO of TSFE, commented: “We are pleased to be partnering up with Scatec and Fertiglobe who are pioneers in green hydrogen production, to provide a unique investment product that creates financial returns while nurturing the green economy at large. The Sovereign Fund of Egypt is a manifestation of Egypt’s 2030 Vision with the principles of sustainable development and impact investment instilled in its mandate, and this project is a cornerstone investment in our green sustainable portfolio build-up with many more to come.”

The parties will seek support from the Egyptian government for required regulatory approvals and sourcing of competitive renewable power from the grid, with the intention to build out new solar and wind capacity to power Egypt’s green hydrogen ambitions in the years to come. The project will be realised in close cooperation with leading hydrogen technology providers and multilateral development institutions for financing. Required engineering and development, including structuring of commercial agreements for the new facility, will start imminently with a target investment decision in 2022 and start-up of the hydrogen facility by 2024.

For further information, please contact:
Andreas Austrell, VP IR
Tel: +47 974 38 686, andreas.austrell@scatec.com

Mikkel Tørud, CFO
Tel: +47 976 99 144, ir@scatec.com

About Scatec ASA

Scatec is a leading renewable power producer, delivering affordable and clean energy worldwide. As a long- term player, Scatec develops, builds, owns and operates solar, wind and hydro power plants and storage solutions. Scatec has more than 3.5 GW in operation and under construction on four continents and more than 500 employees. The company is targeting 15 GW capacity in operation or under construction by the end of 2025. Scatec is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol ‘SCATC’.  To learn more, visit www.scatec.com, or connect with us on Linkedin.

About OCI N.V.

OCI N.V. (Euronext: OCI) is a leading global producer and distributor of nitrogen and methanol products providing lower carbon fertilizers, fuels, and feedstocks to agricultural, transportation, and industrial customers around the world. OCI’s production capacity spans four continents and comprises approximately 16.2 million metric tons per year of nitrogen fertilizers, methanol, biofuels, diesel exhaust fluid, melamine, and other nitrogen products. OCI has more than 3,600 employees, is headquartered in the Netherlands and listed on Euronext in Amsterdam. To find out more, visit www.oci.nl

About Fertiglobe

Fertiglobe is the world’s largest seaborne exporter of urea and ammonia combined, and an early mover in clean ammonia. Fertiglobe’s production capacity comprises of 6.6 million tons of urea and merchant ammonia, produced at four subsidiaries in the UAE, Egypt and Algeria, making it the largest producer in the Middle East and North Africa (MENA), and benefits from direct access to six key ports and distribution hubs on the Mediterranean Sea, Red Sea, and the Arab Gulf. Established in 2019 and headquartered in Abu Dhabi, Fertiglobe is a 58/42 partnership between OCI N.V. and the Abu Dhabi National Oil Company (ADNOC).  To find out more, visit: www.fertiglobe.com

About the Sovereign Fund of Egypt

The Sovereign Fund of Egypt (TSFE) was established in 2018 to attract private investment to Egypt and promote and co-invest in state-owned assets to maximise their value and support the Egyptian economy. Independently managed by senior finance executives, TSFE selects investable assets from public stakeholders and co-invests in them with local and foreign partners. The fund’s mission is to increase the private sector’s role in the economy and create more jobs for Egypt’s young population.

The fund operates under a special law which allows it to establish investment partnerships that offer unique opportunities for investors, to aid the government’s efforts to carry out structural reforms in various sectors and diversify Egypt’s growing economy.

The fund adheres to best international practices in all areas, operating with transparent and flexible investment rules, which enable diverse co-investment structures and good governance in management. The fund is supervised by a board of directors and a general assembly with the majority of members coming from the private sector.

TSFE was established by Law 177 in 2018. Its charter was issued by the Prime Minister’s Decision no. 555 in 2019. The fund is a member of the International Forum for Sovereign Wealth Funds.

To find out more, please visit: www.tsfe.com

To view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.

About GlobeNewswire by notified

GlobeNewswire by notified
GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://notified.com

GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire by notified

Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire by notified

FDA approves Roche’s Susvimo, a first-of-its-kind therapeutic approach for neovascular or “wet” age-related macular degeneration (nAMD)22.10.2021 20:30:00 CEST | Press release

Susvimo, previously called Port Delivery System with ranibizumab, is the first nAMD treatment in 15 years to provide an alternative to standard-of-care eye injections needed as often as once a monthBy continuously delivering medicine into the eye through a refillable implant, Susvimo may help people with nAMD maintain their vision with as few as two treatments per yearNeovascular AMD impacts approximately 20 million people worldwide and is a leading cause of blindness in people over the age of 60 Basel, 22 October 2021 - Roche (SIX: RO, ROG; OTCQX: RHHBY) today announced that the U.S. Food and Drug Administration (FDA) has approved Susvimo™ (ranibizumab injection) 100 mg/mL for intravitreal use via ocular implant for the treatment of people with neovascular or “wet” age-related macular degeneration (nAMD) who have previously responded to at least two anti-vascular endothelial growth factor (VEGF) injections. Neovascular AMD is a potentially blinding condition that requires treatment wi

CONDITIONS FOR RIKSBANK REVERSED AUCTIONS SEK MUNICIPAL BONDS22.10.2021 16:20:00 CEST | Press release

Anbudsförfarande kommuner och regioner, 2021-10-26BondsFixed rate notes issued in SEK by Municipalities or Regions with maturity in: 2024 The following issuers are accepted for delivery: GÖTEBORGS KOMMUN HELSINGBORGS KOMMUN JÖNKÖPINGS KOMMUN Linköpings Stadshus AB MALMÖ KOMMUN SKÅNE LÄNS LANDSTING STOCKHOLMS KOMMUN STOCKHOLMS LÄNS LANDSTING SÖDERTÄLJE KOMMUN Delivery may not be made in Bonds purchased by the Counterparty from the issuer less than one week prior to the date for announcing the Specific terms, i.e. the purchase may not have been made after: 2021-10-15BidsBids are made to tel 08-696 69 70 and confirmed in writing by a filled-in Bid form by e-mail to EOL@riksbank.se Bid date2021-10-26Bid times10.00-11.00 (CET/CEST) on the Bid dateRequested volume (corresponding nominal amount)SEK 750 +/- 750 millionHighest permitted bid volume (corresponding nominal amount)The total bid volume from one Counterparty for the two Credit rating classes may not exceed SEK 750 million. No bid may

CONDITIONS FOR PURCHASES OF CORPORATE BONDS22.10.2021 16:20:00 CEST | Press release

Bid procedure, 2021-10-27BondsBonds issued in SEK by Swedish non-financial undertakings. The following bonds are eligible for delivery: HEIMSTADEN BOSTAD AB: XS2259781230, 2025-02-25 CASTELLUM AB: SE0012675916, 2025-11-27 CASTELLUM AB: SE0011062827, 2023-05-17 ESSITY AB: XS2355204608, 2025-01-17 LUNDBERGFORETAGEN AB: SE0012676609, 2025-11-13 LUNDBERGFORETAGEN AB: SE0012676666, 2024-12-06 SVENSK FASTIGHETS FIN: SE0013882719, 2022-11-16 SVENSK FASTIGHETS FIN: SE0012676880, 2022-09-07 Delivery of a Bond may not occur if the Counterparty has purchased the Bond from the issuer more recently than one month prior to the date of announcement of the Special terms, that is, the purchase may not have taken place after: 2021-09-27Bid date2021-10-27Bid times10.00-11.00 (CET/CEST) on the Bid dateRequested volume (corresponding nominal amount)XS2259781230: 30 mln SEK +/-30 mln SEK SE0012675916: 30 mln SEK +/-30 mln SEK SE0011062827: 30 mln SEK +/-30 mln SEK XS2355204608: 30 mln SEK +/-30 mln SEK SE00

CONDITIONS FOR RIKSBANK REVERSED AUCTIONS SEK COVERED BONDS22.10.2021 16:20:00 CEST | Press release

Bid procedure, 2021-10-28BondsSWEDBANK HYPOTEK AB: 195. SE0013546066. 2025-06-18 STADSHYPOTEK AB: 1591, SE0013882644, 2026-06-01 SWEDISH COVERED BOND: 146, SE0013381571, 2025-06-11 SKANDINAVISKA ENSKILDA: 580, SE0013101722, 2025-12-17 LANSFORSAKRINGAR HYPOTEK: 518, SE0011309244, 2025-09-17 DANSKE HYPOTEK AB: 2312, SE0011116474, 2023-12-20 NORDEA HYPOTEK AB: 5535, SE0013358413, 2025-09-17 Bid date2021-10-28Bid times09.00-10.00 (CET/CEST) on the Bid dateRequested volume (corresponding nominal amount)195: 500 mln SEK +/-250 mln SEK 1591: 1700 mln SEK +/-850 mln SEK 146: 800 mln SEK +/-400 mln SEK 580: 500 mln SEK +/-250 mln SEK 518: 500 mln SEK +/-250 mln SEK 2312: 400 mln SEK +/-200 mln SEK 5535: 600 mln SEK +/-300 mln SEK Highest permitted bid volume (corresponding nominal amount)195: 500 mln SEK per bid 1591: 1700 mln SEK per bid 146: 800 mln SEK per bid 580: 500 mln SEK per bid 518: 500 mln SEK per bid 2312: 400 mln SEK per bid 5535: 600 mln SEK per bid Lowest permitted bid volume (co

CONDITIONS FOR RIKSBANK REVERSED AUCTIONS SEK GOVERNMENT BONDS22.10.2021 16:20:00 CEST | Press release

Bid procedure, 2021-10-29BondsSWEDISH GOVERNMENT: 1056. SE0004517290. 2032-06-01 SWEDISH GOVERNMENT: 1053, SE0002829192, 2039-03-30 Bid date2021-10-29Bid times09.00-10.00 (CET/CEST) on the Bid dateRequested volume (corresponding nominal amount)1056: 500 mln SEK +/-250 mln SEK 1053: 500 mln SEK +/-250 mln SEK Highest permitted bid volume (corresponding nominal amount)1056: 500 mln SEK per bid 1053: 500 mln SEK per bid Lowest permitted bid volume (corresponding nominal amount)SEK 50 million per bidExpected allocation timeNot later than 10.15 (CET/CEST) on the Bid dateDelivery and payment date2021-11-02Delivery of bondsTo the Riksbank's account in Euroclear Sweden AB's securities settlement system 1 4948 6383 Stockholm, 2021-10-22 This is a translation of the special terms and conditions published on www.riksbank.se. In the case of any inconsistency between the English translation and the Swedish language version, the Swedish language version shall prevail. Complete terms and conditions c

Stockwik tillträder Sundisol22.10.2021 16:00:00 CEST | Pressemelding

Stockwik Förvaltning AB (publ) har per idag den 22 oktober 2021 tillträtt Sundisol Aktiebolag och den fastighet från vilken Sundisols verksamhet bedrivs. Samtliga aktier i Sundisol och fastighetsbolaget har förvärvats. Tillträdet är i enlighet med det avtal om förvärv som ingicks och offentliggjordes den 20 oktober 2021. Sundisol är ett bolag med inriktning på installation av akustikplattor och undertak. Sundisol är beläget i Sundsvall och omfattar 11 anställda. Verksamheten har bedrivits sedan 1973. Sundisols omsättning och EBITDA-resultat uppgick för den senaste tolvmånadersperioden per 30 september 2021 till drygt 23,4 MSEK respektive 3,8. Fastighetsbolagets hyresintäkter och EBITDA-resultat uppgick för den senaste tolvmånadersperioden per 30 september 2021 till 0,7 MSEK respektive 0,6. Köpeskillingen för Sundisol uppgår till 17,0 MSEK på skuldfri basis vilket beräknas motsvara en multipel om 4,1x EV/EBITDA, varav 15 MSEK erläggs kontant och 2 MSEK genom revers med 3 års löptid och

Styrelsen i HMS Networks AB (publ) har beslutat att utnyttja bemyndigande om återköp av aktier22.10.2021 14:42:18 CEST | Pressemelding

Styrelsen i HMS Networks AB (publ) ("HMS") har med stöd av bemyndigandet från årsstämman den 23 april 2021 fattat beslut om förvärv av egna aktier på Nasdaq Stockholm. Förvärv av egna aktier ska genomföras inom ramen för ett återköpsprogram vilket syftar till att säkerställa HMS åtaganden att leverera prestationsaktier enligt HMS Aktiesparprogram 2022-2025. Återköpen får inledas den 25 oktober 2021 och kommer att ske vid ett eller flera tillfällen intill årsstämman 2022. Återköpen kommer att ske på Nasdaq Stockholm i enlighet med Nordic Main Market Rulebook for Issuers of Shares och förvaltas av Skandinaviska Enskilda Banken AB (publ) som fattar handelsbeslut vad avser de tidpunkter då återköpen sker oberoende av HMS. Återköp kommer ske till ett pris per aktie inom det vid var tid registrerade kursintervallet, varmed avses intervallet mellan högsta köpkurs och lägsta säljkurs. Återköp får ske av högst 81 000 aktier. Betalning av aktierna kommer att erläggas kontant. Rapportering kommer