Friday, September 8, 2023

NEOM Green Hydrogen Company in Saudi Arabia seals $8.4bn plant deals


NEOM Green Hydrogen Company (NGHC) has signed financial agreements with 23 banks and investment firms to build a green hydrogen production facility in Oxagon, Saudi Arabia. The project, which will produce 600 tons of carbon-free hydrogen per day using 4 GW of solar energy, has a total investment value of $8.4 billion. The National Development Fund (NDF) will contribute to financing the project, along with local and international banks. The NDF aims to align Saudi Arabia’s development with Vision 2030 and Net Zero by 2060. NGHC is a joint venture between ACWA Power, Air Products, and NEOM.

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