The NEOM Green Hydrogen Company (NGHC) has announced a significant milestone in the construction of the world's largest green hydrogen plant, reporting 80% completion across all project sites as of early Q1 2025. This monumental undertaking, situated at Oxagon in NEOM, is on track to redefine the global clean energy landscape, with commissioning of electrolyzers and initial ammonia product availability slated for 2027.

The ambitious project, an equal joint venture between ACWA Power, Air Products, and NEOM, is progressing at an accelerated pace. Key components and milestone equipment are now being received and meticulously installed. This includes the integration of towering wind turbines, massive hydrogen storage vessels, cutting-edge electrolyzers, the crucial cold box, and extensive pipe racks. The comprehensive infrastructure also encompasses a vast wind garden, a sprawling solar farm, and a robust transmission grid, all of which are integral to the plant's operational success. The 4 GW of solar and wind power generation, which will fuel the facility, is expected to be fully operational by mid-2026, setting the stage for the subsequent phases of commissioning.

Once fully operational, NGHC's world-scale plant is poised to produce an astounding 600 tonnes per day of carbon-free hydrogen by the end of 2026, primarily in the form of green ammonia. This substantial output is envisioned as a cost-effective and environmentally sound solution for the global transportation and industrial sectors, offering a tangible pathway towards decarbonization on an unprecedented scale. The commitment to this vision is further solidified by an exclusive 30-year off-take agreement with Air Products, ensuring the economic viability and global distribution of the green ammonia produced at the facility. This long-term partnership underscores the confidence in the project's ability to unlock the full economic potential of renewable energy across the entire value chain.

The financial underpinnings of this colossal project are equally robust. In May 2023, NGHC successfully achieved a landmark financial close of $8.4 billion. This significant funding was bolstered by a substantial $6.1 billion non-recourse loan, secured from a consortium of 23 prominent local, regional, and international banks and financial institutions, including key entities like the Saudi Industrial Development Fund (SIDF) and the National Investment Fund (NIF).

This pioneering green hydrogen initiative is a direct and powerful testament to the Kingdom's Vision 2030 ambitions. It represents a critical step towards driving economic diversification away from traditional fossil fuels and establishing Saudi Arabia as a global leader in clean energy production. By spearheading the development of the world's leading hydrogen production capabilities, NGHC is not only strengthening Saudi Arabia's pivotal role in the global energy sector but also paving the way for a more sustainable and environmentally conscious future for the entire world.