(Neom / Saudi Arabia) – The Neom Green Hydrogen Company (NGHC) wants to invest 8,4 billion dollars (7,8 billion euros) in what it describes as “the world’s largest plant for the production of green hydrogen”. The construction had already been announced in the summer of 2020 - at the time there was talk of costs amounting to seven billion dollars. Financing has now been completed in the amount mentioned. 23 local, regional and international banks and investment firms are involved, according to a statement.
Location of Neom in Saudi Arabia. © Wikimedia; CC-BY-SA-4.0
The plant will be built in the part of the Saudi Arabian Neom region called “Oxagon”. It includes solar and wind turbines with an installed capacity of up to four gigawatts. Commissioning is scheduled to take place by the end of 2026, said Nadhmi Al-Nasr, Chairman of NGHC and Chief Executive Officer of Neom: “This will pave the way for the large-scale introduction of green hydrogen” and “wants the hydrogen revolution in the world on an international level.” lead.
Air Products purchases the entire Neom production quantity of 600 tons of hydrogen per day and wants to use it to produce, among other things, 1,2 million tons of ammonia per year for export: green hydrogen is produced from wind and solar power in the NGHC electrolyzer, as well as nitrogen the ASU (air separation unit). Using the Haber-Bosch process, ammonia is created from both elements via a catalyst. This makes hydrogen easier to transport and store. Ammonia can be used as fuel or converted back into hydrogen. © Air Products
NGHC has already secured the EPC (Engineering, Procurment and Construction) contract with industrial gases manufacturer Air Products for the entire facility. The US company, part of the consortium, will take over the entire production volume of up to 600 tons of carbon-free hydrogen per day, which will be exported worldwide in the form of green ammonia. This will save around five million tons of carbon dioxide per year globally. “Construction work is in full swing,” says Seifi Ghasemi, Chairman, President and Chief Executive Officer.
For its part, Air Products has already awarded contracts to various technology and construction partners, including Thyssenkrupp. The people of Dortmund should be loud announcement from December 2021 will deliver an electrolysis system with an output of more than two gigawatts.
Vision of the Saudi Crown Prince
Neom is based on a plan (“Vision 2030”) by Saudi Crown Prince Mohammed bin Salman. Accordingly, an innovative model region is to be created in the desert on the Red Sea as a “living laboratory” where “more than a million inhabitants from all over the world live and work” (Claim: “Accelerator of human progress”). Cities, ports, industrial and commercial areas, research centers, sports and entertainment as well as tourism are planned. The first announcement about the newly planned high-tech city Neom was made in 2017. The made-up word is made up of “neo” (for “new”) and the Arabic abbreviation “M” (for “mostaqbal”, future).
The Neom Green Hydrogen Company is a joint venture founded in 2021 by the Saudi utility ACWA Power, the US industrial gases manufacturer Air Products & Chemicals and Neom. She is responsible for the development of the region.
Photos
The world's largest production facility for green hydrogen is to be built in the Neom model region on the Red Sea in Saudi Arabia in the industrial area known as “Oxagon”. © Neom
