Riyadh: The Saudi government has completed the preparation of the world’s largest plant, taking a step towards producing carbon-free hydrogen in the “Nyum” area in the northwest of the kingdom.
On Thursday, Neom Green Hydrogen Company, affiliated to Saudi Aqua Power, announced the completion of the engineering, procurement and construction contract and approval to implement the Neom Green Hydrogen project.
The plant is expected to start producing green hydrogen from 100 percent renewable energy sources in 2026. The plant will produce 1.2 million tons of green ammonia annually, which is equivalent to 600 tons of green hydrogen per day.
In a statement, “Saudi Tadawul” said that all agreements related to the implementation of the project have been signed and all partners agreed to assume and bear specific risks related to engineering, procurement and construction of the project.
The notification of the award comes after the announcement of a limited award agreement with “Neum Green Hydrogen” in early April last year, in which Aqua Power contributed 1.125 billion riyals, the statement said.
Aqua Power said its share of 1.125 billion riyals in the limited award agreement is part of the project capital.
Last February, the Ministry of Industry and Mineral Resources issued the first license in oxygen to the “Neum Green Hydrogen” company, a joint venture between “Neum, Aqua Power” and “Air Products”.
For Green Hydrogen, Neom will be the world’s largest green hydrogen production company, headquartered in Oxagon, home to innovative and clean industries in Neom.
Last May, Neom signed financing documents with 23 local, regional and international banks and investment companies to build the world’s largest green hydrogen production plant, with an investment of $8.4 billion. Completed the financial closing phase of
According to the company, the factory is being constructed in the city of Oxagon within the NEOM region of Saudi Arabia at a time when it has also entered into an engineering, procurement and construction contract with Air Products. As the contracting company responsible for executing the works and generally ensuring system integration at the factory level.
The government is stepping up its initiatives to take advantage of the kingdom’s low-cost hydrocarbon resources and its strategic location for renewable energy sources. As it works to incorporate the hydrogen economy through its targets in the world’s producing countries.
Comments
(function(d, s, id) {
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src = “//connect.facebook.net/en_US/sdk.js#xfbml=1&appId=1763457670639747&version=v2.3”;
fjs.parentNode.insertBefore(js, fjs);
}(document, ‘script’, ‘facebook-jssdk’));