Alongside our strong solar and wind pipeline, Hive is developing over 14 GW of green hydrogen/ammonia projects across the globe; South Africa and Spain alone contribute to over 2/3 of the overall pipeline, totalling 10 GW. We are pleased to announce that we have launched our Investment Memorandum for two projects in South Africa and Spain we are currently executing.
Coega Green Ammonia Project
Our first green ammonia project, “Coega Green Ammonia Project”, is located in the Coega Special Economic Zone in the Nelson Mandela Bay Municipality, Eastern Cape, South Africa.
The project consists of 1,200 MW electrolysis with a concomitant renewable energy feed of 1,445 MW of solar power, and 2,205 MW of onshore wind, developed by Hive Hydrogen South Africa.
The project is anticipated to achieve the final investment decision (FID) in June 2024 and be fully operational in January 2027 – producing approximately 950,000 tonnes of Green Ammonia per annum.
We have completed our internal feasibility studies and have already secured the land for the project – a total of almost 300,000 hectares.
The total project cost is estimated at $5.8 billion and we have opened the first round of investment ($50 million), on advantageous terms, which we expect to be closed by the end of 2022.
Albacete Green Hydrogen & Ammonia Hub
We have adopted a hub model in Spain. We aim to work with strategic and offtake partners across the value chain to develop large-scale green hydrogen and ammonia production with a focus on domestic and European offtake markets. We have a specific focus on the decolonisation of the energy, transport, and hard-to-abate sectors.
We are launching the first Green Hydrogen/Ammonia Hub, located in Albacete, South East Spain. The Hub plans to install 1.6 – 2.4 GW electrolysis combined with 2.7 – 4 GW dedicated solar PV and onshore wind generation solely developed by Hive. The total investment is estimated to be over €8 billion to produce approximately 1,000 mtpd of green hydrogen or 3,500 mtpd of green ammonia when the Hub is fully operational.
The first phase of the Hub is expected to achieve the final investment decision (FID) in March 2025 and full operation in June 2027 – including up to 800 MW electrolysis together with 1.1GW Solar PV, 284 MW onshore wind and energy storage system. We are initiating the first round of funding (€40 million), on advantageous terms, which we expect to be closed in February 2023.
For more information regarding investment opportunities for our green hydrogen and green ammonia projects in South Africa and Spain, please contact our team using the button below.