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Staff Reporter

, Saudi Arabia

Published:

1 year ago

Photo by Rafael Classen rcphotostock.com: https://www.pexels.com/photo/hydrogen-molecules-against-blue-background-10670941/

NEOM Green Hydrogen secures $8.4b in investment

It is expected to start production by end-2026.

NOEM Green Hydrogen Company (NGHC), an equal joint venture by ACWA Power, Air Products and NOEM, signed financial deals with 23 banks and investment firms, achieving a financial close of $8.4b.

In a statement, ACWA Power said NGHC, which is building the largest green hydrogen power plant globally, will integrate four gigawatts (GW) of solar and wind to produce 600 tonnes of green hydrogen in the form of green ammonia daily.

It is expected to start production be end-2026.

NGHC has also bagged a 30-year exclusive off-take agreement with Air Products for all the green ammonia produced.

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ACWA Power

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