Hive Hydrogen in Coega and the H2Global contract

Hive Hydrogen South Africa announced on September 15, 2026 the award of the FEED contract, worth USD 9 million, to Spain's Técnicas Reunidas, for the USD 5.8 billion green ammonia project at Coega, with capacity of one million tonnes a year and 2,930 MW of its own wind and solar.

The announcement is about engineering, not sales: the company refers to prospective offtakers and makes the final investment decision conditional on FEED, approvals and financing. The market reference sits at another order of magnitude: under the H2Global mechanism, Hintco signed with Fertiglobe a contract worth up to EUR 397 million, covering 19,500 tonnes in 2027 and 397,000 tonnes cumulatively by 2033.

There are two sides. A FEED set to roll over into the EPC phase, estimated at USD 1.8 billion, shortens the path to the final decision and cuts interface risk. Yet one million tonnes a year exceeds, in a single year, the entire cumulative volume of the largest European contract signed so far.

What decides Coega is the volume with price and term contracted before the final investment decision.