Avina Clean Hydrogen, the multi-faceted developer of green hydrogen and ammonia projects, is raising some $2.5bn in debt and equity for its green ammonia project in Nueces County, Texas, CEO Vishal Shah said in an interview.
Avina is advancing four more projects, in addition to Nueces Green Ammonia, which is slated for FID in 2Q24, Shah said.
The company is also in talks with renewables developers to supply 1 GW of renewable generation co-located with Nueces Green Ammonia.
“We are trying to bring a lot of these first-of-a-kind large scale projects to fruition,” Shah said. “There are more opportunities down the line for additional capital.”
Nueces Green Ammonia, a subsidiary of Avina, has applied for a water permit with the Water Control and Improvement District Three of Nueces County in Texas, a local official told ReSource.
The permit, for 4.5 million gallons per day of potable water and 1 million gallons per day of raw water, was recently filed with the office in Robstown, Texas, the official said. The company has also acquired land to the north of Robstown, Texas.
Corpus Christi city council members voted last week to approve a seawater desalination plant – producing 30 million gallons per day – that will be a critical source of water for the growing clean fuels industry in the region.
Avina, via Nueces Green Ammonia, filed for a separate permit to construct the facility with the Texas Commission on Environmental Quality.
ReSource reported in April, 2023 that the company was auditioning advisors for a capital raise.
