Independent solar power producer Phelan Green Energy out of Ireland, announced it intends to invest about $2.5 billion developing a green hydrogen and ammonia production plant in the Western Cape province of South Africa.
The final investment decision for the project, dubbed Saldanha Green Hydrogen, is expected in Q3 2024 after studies are complete. If the project goes through, production and export could begin in H1 2026. Projected annual revenue potential stands at about $315 million.
Solar Capital would be responsible for the installation of the facility which is projected to create over 2,500 jobs during the construction phase with the potential for several hundred jobs to be permanent over the life of the plant.