In a move to help Saudi Arabia achieve its sustainability goals, NEOM Green Hydrogen Co. is breaking new ground in order to start the full-time operation of the world’s largest green hydrogen plant in 2026.
CEO of NGHC, David Edmondson, said the company is ready to face any challenges that may arise while building this hydrogen plant which could revolutionize the ongoing energy transition journey.
“We are building the world’s largest plant to produce green hydrogen at scale. As a first-of-its-kind facility, and with key learnings not available to us with no other similar facilities in the world, we are very much navigating uncharted territory in the green hydrogen and sustainable energy space,” said Edmondson.
He acknowledged that projects of this scale come with challenges but “we have already hired some great talent.”
With the support of its shareholders and commitment from its technology partners, Edmondson said the company is “prepared for any scenario by leveraging the experience and expertise of everyone supporting us on the project.”
The firm behind the mega-plant, which will integrate up to 4 gigawatts of solar and wind energy to produce up to 1.2 million tons of green ammonia, achieved the financial closure on the project in NEOM’s industrial city Oxagon at a total investment value of $8.4 billion.
This came after it signed financial documents with 23 local, regional, and international banks and investment firms.
“Together, these banks and financial institutions have committed to funding our investment and, alongside those from across the region and around the world, we are privileged that the Saudi Industrial Development Fund and National Infrastructure Fund are among those supporting us,” added Edmondson.
An equal joint venture between ACWA Power, Air Products, and NEOM, NGHC’s mega-plant will produce up to 600 tons per day of carbon-free hydrogen by the end of 2026.
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