NEOM Green Hydrogen Company (NGHC) is a $8.4 billion facility, world’s largest green hydrogen production plant, is progressing on schedule for full operations by the end of 2026. The project aims to produce up to 600 tonnes of carbon-free hydrogen daily, potentially eliminating 5 million tonnes of CO2 emissions annually

NGHC – an equal joint venture between NEOM, ACWA Power and Air Products – highlighted a total of SAR 22.9 billion of financing secured from 23 financial institutions, including Saudi Industrial Development Fund (SIDF), National Infrastructure Fund (NIF), as well as local and international banks. NGHC will be located in NEOM’s OXAGON. It will integrate up to 4GW of solar and wind energy, with around 5.6 million solar panels and over 250 wind turbines powering 2.2GW of electrolysers

The green hydrogen will be exported in the form of green ammonia by Air Products, the exclusive 30-year off-taker, for use in hard-to-abate sectors including heavy industry and transportation. Green hydrogen, created through electrolysis powered by renewable energy, is seen as a critical component in reducing global carbon emissions, because it produces no greenhouse gases in the production process. This project is a significant step in Saudi Arabia’s pivot towards renewable energy, supporting the Kingdom’s pledge to generate at least 50 percent of its power from renewable sources by 2030 as part of the Saudi Green Initiative

NEOM Green Hydrogen Company is now 60 percent complete. The plant will rely entirely on solar and wind energy to power a 2.2 gigawatt electrolyzer, designed to produce hydrogen continuously