Alfanar has signed a memorandum of understanding with the General Authority of the Suez Canal Economic Zone, the Sovereign Fund of Egypt, the Egyptian Electricity Transmission Company and the New and Renewable Energy Authority, aiming to develop a green ammonia facility in Sokhna. The USD 3.5 billion project will use renewable energy sources and produce 500,000 tonness of green ammonia from 100,000 tonnes of green hydrogen per year. Alfanar has enjoyed a strong presence in Egypt for many years through its design and energy industry as well as renewable energy development projects. Alfanar was one of the first companies across the globe to operate a 50MW solar project in the Benban Solar Park in the Aswan region of Egypt. The electricity generated from this solar plant currently offsets around 57,000 tons of carbon dioxide emissions per year. Alfanar is a prominent global player in energy transition and green fuel with ambitious renewable energy projects across Saudi Arabia, United Kingdom, Spain, India, and Egypt. It is currently developing a pioneer project to produce green aviation fuel from waste in the United Kingdom, and aspires to continue its active participation in the new and renewable energy industry, whether with its industrial arm among the major manufacturers of wind turbines in the Asia, or by expanding the development of wind and solar energy projects in Egypt.