• NEOM: $ 5 billion to build the largest green hydrogen project in the world


    ​​​Al-Eqtisadiah from Riyadh

    NEOM Company announced the signing of a partnership agreement with Air Products and Aqua Power for a value of five billion dollars to build a facility in the NEOM region to produce hydrogen in an environmentally friendly way and export it to the global market, in order to provide sustainable solutions for the global transport sector and to address climate change challenges through practical solutions to reduce carbon emissions.
    Eng. Nazmi Al-Nasr, The CEO of NEOM, said: This partnership reflects our deep commitment to developing a carbonless society, which is a symbol of exceptional and sustainable living, a vision that the Custodian of the Two Holy Mosques King Salman bin Abdulaziz and his heir aspire through this giant project.
    He pointed out that this partnership is a testament to the belief of investors from inside and outside the Kingdom with the vision of the NEOM project and its strategic goals that will contribute to achieving the ambitions of the NEOM board to chart a new, prosperous and sustainable future for human societies.
    He added: The NEOM Board of Directors headed by Prince Mohammed bin Salman, Crown Prince and the executive team of the company is pleased to announce the renewable hydrogen project, the largest of its kind in the world, and its importance lies in its consistency with the efforts of NEOM to achieve leadership in the production of green hydrogen and green fuel globally, to be A focal point of NEOM's journey to becoming the most important international destination in providing sustainable solutions in a way that attracts investors and the best minds from all over the world to accelerate human development.

    He stressed that this partnership will be a key element in supporting the strategy of a clean carbon-free energy economy in the Kingdom, which is one of the most important pillars of Vision 2030, and will be followed by many similar large projects to contribute to drawing milestones for the new future in NEOM.
    For his part, Saifi Qasimi explained; Air Products Chairman of the Board of Directors, that the company is proud of this partnership, which will focus on using proven technologies to transform the dream of the world to reach 100 percent green energy into reality.
    He explained that NEOM's unique geographical advantages in terms of solar and wind energy will enable the project to convert water into hydrogen as a widely applied clean energy source, thereby reducing global carbon dioxide emissions by more than three million tons annually.​
    In turn, Mohamed Abunyan, The Chairman of the Board of Directors of Aqua Power, emphasized that the launch of this project comes in belief in Vision 2030, and the continuous endeavor to contribute to achieving the aspirations of leadership to become a global leader in sustainable living, stressing the company's belief in its capabilities to contribute to building this pioneering investment project, which is the first Of its kind worldwide.
    He indicated that that project would open the door to many promising opportunities in the field of green hydrogen production, and would enhance the Kingdom's ability to work with countries of the world to achieve its goals in the field of clean energy production, with the social and economic benefits for the whole world.
    He explained that the project will make use of the expertise and the latest developments in advanced technologies in the field of utilizing solar and wind energy to produce green energy that is sustainable and available globally.
    The joint venture will be based on proven and world-class proven technology, and will integrally combine the generation of more than four gigawatts of renewable energy from solar energy, wind energy, and storage, as well as hydrogen production through electrolysis using "ThyssenKrupp" technology, and nitrogen production by separating Air using "Air Products" technology installed in this field, and producing green ammonia using HaldorTopsoe technology.
    Air Products" states that you will play the exclusive role of green ammonia to be transported to all parts of the world to extract green hydrogen, which will supply the transport sector with the environmentally friendly biofuels it needs. And use it immediately after that.​
    The project - which will be equally owned by the three partners - will be located in NEOM, and by 2025 it will be ready to produce hydrogen and then export it to global markets to use biofuels that feed transportation and transportation systems and will produce about 650 tons of green hydrogen per day, and 1. 2 million tons of green ammonia annually, thereby contributing to reducing carbon dioxide emissions by three million tons annually.

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