NEOM's Bold Green Hydrogen Project in Oxagon: A Beacon of Hope for the Industry
Key Ideas
- NEOM's 2.2GW green hydrogen project in Oxagon, Saudi Arabia, is a beacon of hope for the hydrogen industry.
- The joint venture, NEOM Green Hydrogen Company (NGHC), involving Saudi's sovereign wealth fund, ACWA Power, and Air Products, reached an $8.4bn financial close on the project in 2023.
- Construction of the plant in Oxagon has reached 60% completion, with a full-scale start-up expected by the end of 2026.
- 1.1GW of thyssenkrupp nucera's alkaline electrolysers have already been delivered to Oxagon for the project.
NEOM, an industrial city in the south of Saudi Arabia known for its ambitious projects, is home to a groundbreaking green hydrogen initiative. The NEOM Green Hydrogen Company (NGHC), a joint venture involving Saudi's sovereign wealth fund, ACWA Power, and Air Products, is driving this $8.4bn project forward. With construction currently at 60% completion, the plant is anticipated to be fully operational by the end of 2026. The use of thyssenkrupp nucera's alkaline electrolysers underscores the scale and commitment to green hydrogen production in Oxagon. This project is seen as a symbol of hope and progress within the hydrogen industry, offering a glimpse of what large-scale green hydrogen production can achieve. Despite the challenges faced by the hydrogen sector in recent times, the NEOM project stands out as a beacon of inspiration and a testament to the potential of sustainable energy solutions.