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Yara and Air Products announced today (link: https://newsweb.oslobors.no/message/661437) advanced negotiations to partner on low-emission ammonia projects.

Yara has matured a project portfolio for potential investment in cost competitive US ammonia to diversify its energy position and increase competitiveness of its European nitrate production, enabling robust returns.

As emphasized in recent quarter releases, Yara will execute potential US projects in line with its capital allocation policy and the potential partnership with Air Products would be consistent with this. Yara has indicated an average capex level of approximately 1.2 billion USD (real) throughout the cycle, as well as an annual maintenance capex level between 700-850 million USD. During project execution 2026-2030 and up until the closing would take place, Yara will be restrictive on other growth projects, maintaining strict capital discipline and enabling shareholder distributions.

A final investment decision is targeted mid-2026.

Contact
Maria Gabrielsen
Head of Investor Relations
M: +47 920 900 93
E: maria.gabrielsen@yara.com

About Yara

Yara’s mission is to responsibly feed the world and protect the planet. We pursue a strategy of sustainable value growth through reducing emissions from crop nutrition production and developing low-emission energy solutions. Yara’s ambition is focused on growing a nature-positive food future that creates value for our customers, shareholders and society at large and delivers a more sustainable food value chain.

To drive the green shift in fertilizer production, shipping, and other energy intensive industries, Yara will produce ammonia with significantly lower emissions. We provide digital tools for precision farming and work closely with partners at all levels of the food value chain to share knowledge and promote more efficient and sustainable solutions.

Founded in 1905 to solve the emerging famine in Europe, Yara has established a unique position as the industry’s only global crop nutrition company. With 17,000 employees and operations in more than 60 countries, sustainability is an integral part of our business model. In 2024, Yara reported revenues of USD 13.9 billion.

www.yara.com 
 

Oslo/Cairo, 08 December: Scatec ASA, a leading renewable energy solutions provider, has signed shareholder agreements with Norfund, the Norwegian investment fund for developing countries and EDF power solutions, an international energy player which develops, builds and operates renewable and low-carbon energy production facilities, for an equity partnership in Scatec’s 1.1GW solar and 100MW/200MWh battery storage hybrid project, Obelisk in Egypt.

“We are very pleased to continue our valuable collaborations with Norfund and EDF power solutions through these partnerships. Obelisk is Scatec’s largest project to start construction to date and combines solar and batteries to deliver stable and cost competitive renewable energy to support Egypt’s growing power demand and energy transition,” says Scatec CEO Terje Pilskog.

Following the transaction, Norfund will own 25% of the Obelisk holding company with Scatec owning the remaining 75%. EDF power solutions will own 20% of the operating company (SPV), bringing Scatec’s and Norfund’s total economic interest to 60% and 20% respectively with Scatec retaining economic control of the power plant.

Inviting equity partners at several ownership levels is part of Scatec’s strategy to enhance capital efficiency and increase value creation, while retaining control of the power producing entities. Scatec is in advanced discussions with additional equity partners, aiming to reduce Scatec’s economic interest in the project further.

For further information, please contact:
For analysts and investors:
Andreas Austrell, SVP IR
andreas.austrell@scatec.com
+47 974 38 686

For media:
Meera Bhatia, SVP External Affairs & Communications
meera.bhatia@scatec.com
+47 468 44 959

About Scatec 
Scatec is a leading renewable energy solutions provider, accelerating access to reliable and affordable clean energy in emerging markets. As a long-term player, we develop, build, own, and operate renewable energy plants, with 6.2 GW in operation and under construction across five continents today. We are committed to growing our renewable energy capacity, delivered by our passionate employees and partners who are driven by a common vision of ‘Improving our Future’. Scatec is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol ‘SCATC’. To learn more, visit www.scatec.com or connect with us on LinkedIn.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act