NEOM Green Hydrogen Company (NGHC) announced signing of facility agreements with local, regional and international banks along with execution of a commitment letter with the Saudi Industrial Development Fund (SIDF) for the construction of the world's largest green hydrogen plant.
This NEOM-based mega plant will integrate up to 4 GW of solar and wind energy to power the production of up to 1.2 million tonnes of green ammonia yearly, translating to around 600 tonnes of carbon-free hydrogen per day. Upon completion by 2026, the entire production of green hydrogen will be supplied for global export in the form of ammonia through an exclusive long-term agreement with Air Products.
As an equal joint venture created by ACWA Power (renewable energy expert), Air Products (the world's largest hydrogen producer) and the pioneering NEOM sustainable living initiative, "NGHC has a clear mission; to leverage the expertise and vision of its partners to accelerate the global green hydrogen economy. This is fully in line with Vision 2030 and the goals of the Saudi Green Initiative," said David R. Edmondson, CEO of NGHC.
Under the Initiative, both the public and private sectors will join forces to increase Saudi Arabia's reliance on clean energy, offset GHG emissions and protect the environment.
Asides from boosting the deployment of solar and wind, Saudi Arabia will also leverage these green energy sources to strengthen its leading position in global green hydrogen supply and adoption, also being a world-class innovative practice of "using green to create green."
*Cover image: NEOM Green Hydrogen Company (NGHC)