Phelan Green Energy, a renewables developer headquartered in Cape Town, South Africa, announced plans for a $2.4 billion green ammonia investment in Peru.
The project includes a large-scale green ammonia production plant in the Arequipa region where the Peruvian government has approved the concession of 4,000 hectares for the project. In addition, a 50-hectare concession for the construction of a processing plant in the coastal port of Matarani was granted.
“Our goal is to produce the lowest-cost green energy in the world, ensuring a sustainable and economically viable supply to key markets in the EU, Japan, and Peru,” said Chairman and Founder Paschal Phelan.
The South African investor also announced the discontinuation of hydrogen projects in Chile, Egypt, and Spain, opting to commit resources to enhance production capabilities in Peru and Saldanha, South Africa. Initial production across the Peruvian and South African sites is targeted at 440,000 mt/y of green ammonia, with plans to expand to one million mt/y.