Saudi Arabian Refineries' Clean Energy Unit Signs MoU with AGR for Green Ammonia Offtake
Saudi Arabian Refineries Company's subsidiary, Clean Energy Company, has signed a non-binding MoU with AGR to develop a green ammonia value chain in Saudi Arabia. AGR plans to purchase 100% of the output from a proposed green ammonia plant in Jazan Industrial City. The MoU reflects a mutual commitment to clean energy and will remain valid for six months, with no immediate financial impact expected.
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Clean Energy Company, a subsidiary of Saudi Arabian Refineries Company, has signed a non-binding MoU with British renewable energy firm AGR. The agreement aims to support the development of a green ammonia value chain in Saudi Arabia.
Under the terms, AGR intends to buy 100% of the production from a new green ammonia plant planned for Jazan Industrial City. This initiative follows Saudi Arabian Refineries' earlier announcement regarding the establishment of the production facility. The MoU is effective upon execution and lasts for six months, with no short or medium-term financial impact anticipated.
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