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First License At OXAGON To NEOM Green Hydrogen | |
| Sumita Pawar |
Saudi Arabia’s Ministry of Industry and Mineral Resources on Tuesday issued the first industrial licence to NEOM Green Hydrogen Co. at Oxagon, the Saudi Press Agency reported.
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It is an equal joint venture between NEOM, ACWA Power, and Air Products.
According to the report, it is part of the Kingdom’s efforts to catalyse the global hydrogen economy by becoming the world’s leading hydrogen producer while maintaining its position as a key player in the energy sector.
In 2026, the NEOM Green Hydrogen plant should start making green hydrogen by using only renewable energy.
It will produce up to 1.2 million tonnes of green ammonia annually, or 600 tonnes of green hydrogen daily, as highlighted in the report.
Green ammonia will be sent to markets around the world to help the heavy transport sector get rid of carbon emissions.
It is estimated that the plant will produce up to 5 million tonnes of CO2 annually.
When the plant commences operations at Oxagon in 2026, 100 percent of the green hydrogen will be exportable to global markets in the form of green ammonia, under an exclusive long-term agreement with US-based Air Products Co.
According to the report, the plant will run on approximately 4 GW of wind and solar energy and produce green hydrogen using electrolysis technology (2.2 GW).