Saudi NEOM Green Hydrogen Company secures $8.4bn funding for ‘world’s largest’ production facility


Saudi Arabia’s NEOM Green Hydrogen Company (NGHC) has signed financial documents with 23 local, regional and international banks and investment firms, leading to the financial close on the world’s largest green hydrogen production facility at a total investment value of $8.4bn.

The company also announced that it has concluded an engineering, procurement and construction (EPC) agreement with Air Products worth $6.7bn.

Additionally, NGHC has secured an exclusive 30 year off-take agreement with the industrial gas giant for all the green ammonia produced at the facility.

A joint venture between ACWA Power, Air Products and NEOM, NGHC’s mega-plant – currently being built in Oxagon, Saudi Arabia – will integrate up to 4GW (gigawatts) of solar and wind energy to produce up to 600 tonnes per day of carbon-free hydrogen by the end of 2026, in the form of green ammonia.

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