Air Products, ACWA Power and Neom to develop US$5bn green hydrogen project in Saudi Arabia

NEOM ACWA renewableAir Products, in conjunction with ACWA Power and NEOM, has signed agreement for a US$5bn green hydrogen-based ammonia production facility in Saudi Arabia

The project, which will be equally owned by the three partners, will be sited in NEOM and will produce green ammonia for export to global markets.

The joint venture project is the first partnership for NEOM with leading international and national partners in the renewable energy field and it will be a cornerstone for its strategy to become a major player in the global hydrogen market.

It will include the innovative integration of more than four gigawatts of renewable power from solar, wind and storage; production of 650 tonnes per day of hydrogen by electrolysis using thyssenkrupp technology; production of nitrogen by air separation using Air Products technology; and production of 1.2mn tonnes per year of green ammonia using Haldor Topsoe technology. The project is scheduled to be onstream in 2025.

“This project will yield a totally clean source of energy on a massive scale and will save the world over three million tonnes of CO2 emissions annually and eliminate smog-forming emissions and other pollutants from the equivalent of over 700,000 cars,” Seifi Ghasemi, chairman, president and CEO for Air Products said.

“We are confident that our collaboration with an industry-leading company like Air Products will create significant opportunities in the production of green hydrogen, and further us in our goal to help countries meet their clean energy targets and unlock significant socio-economic benefits. Based in NEOM’s Industrial Cluster, and enabled by its unique mandate, this investment will integrate and localise cutting-edge technologies that will harness solar and wind power to produce sustainable and globally accessible green energy,” noted Mohammad Abunayyan, ACWA Power chairman.

Nadhmi Al Nasr, NEOM CEO, commented, “This partnership reflects our deep commitment to developing a carbon positive society which will be a beacon for sustainable living and a solution to many of the environmental challenges facing the world.”

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