Saturday, October 28, 2023

NEOM’s Green Hydrogen Project Receives Saudi Arabia’s First Sustainable Guarantee

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Standard Chartered has provided the first sustainable guarantee in Saudi Arabia to support the development of the country’s green hydrogen project at NEOM. The bank has agreed to extend funding support for contractor Larsen & Toubro to build the necessary renewable energy infrastructure for the world’s largest green hydrogen plant, which is being built by NEOM Green Hydrogen Co. The megaplant will produce green hydrogen at scale for global export in the form of green ammonia with a total investment of $8.4 billion. The project recently achieved full financial closure and is supported by 23 local, regional and international banking and financial institutions.

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