Brooge Energy Enters Renewable Energy Sector
According to a statement, UAE-based Brooge Energy has announced its entry into the renewable energy industry with the formation of a new, wholly-owned subsidiary, Brooge Renewable Energy Ltd.
According to the report, the company listed on the New York Stock Exchange intends to construct green energy and a green ammonia factory in Abu Dhabi's Khalifa Industrial Zone, better known as Kizad.
The plant is anticipated to produce 300,000 metric tonnes of green ammonia a year once completed.
The report said Brooge signed a contract with Kizad for a 150,000-square-meter plot of land where the plant would be constructed.
Nicolaas Paardenkooper, CEO of Brooge Energy, said:
"This new facility is a significant milestone for the company’s clean energy strategy. We are entering into this market segment that has excellent growth potential."
Source: Arab News