Phelan Green Energy invests USD 2.4 billion in green ammonia in Peru

Phelan Green Energy has announced an investment of over $2 billion in Peru to develop a large-scale green ammonia production plant. The USD 2.4 billion commitment was made during a special two-hour meeting with Peruvian Prime Minister Gustavo Adrianzén and his cabinet at the Presidencia del Consejo de Ministros del Peru in Lima. The Peruvian government has approved a 4,000-hectare concession in the Arequipa region, a strategic location for harnessing the low-cost solar energy needed to produce green hydrogen and ammonia. Despite the many tensions on its territory, the country is striving to secure and develop its energy system through various projects.