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NEOM Green Hydrogen Deals for US$5bln Green Hydrogen Project: Saudi | |
| Sumita Pawar |
NEOM Green Hydrogen Company (NGHC) has signed credit facility agreements with local, regional and international banks for its mega green hydrogen project in NEOM gigaproject, reported the media.
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A press statement says, the company has also linked an execution of a commitment letter with Saudi Industrial Development Fund [SIDF].
The financing is structured with significant participation from SIDF and National Infrastructure Fund.
The financial details of the agreements were not revealed.
NGHC is a joint venture equally owned by ACWA Power, Air Products, and NEOM.
The hydrogen plant will integrate up to 4 gigawatts (GW) of solar and wind energy to produce up to 1.2 million tonnes of green ammonia, mentioned the report.
Total ammonia production will be exported worldwide through an exclusive long-term agreement with Air Products once the plant is operational by 2026.
By Sumita Pawar