Saudi NEOM Green Hydrogen Company (NGHC) announced the signing of facility agreements with local, regional, and international banks along with the execution of a commitment letter with the Saudi Industrial Development Fund (SIDF) for the construction of the world’s largest green hydrogen plant.
Read more: Work starts at the world’s largest green hydrogen project in NEOM
This NEOM-based mega plant will use up to 4 GW of solar and wind energy to produce up to 1.2 million tons of green ammonia per year, which equates to approximately 600 tons of carbon-free hydrogen per day. Through an exclusive long-term agreement with Air Products, the entire production of green hydrogen will be supplied for global export in the form of ammonia once completed by 2026.
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 greenhouse gas (GHG )emissions, and protect the environment.