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  • 20-12-22

    NEOM company inks credit facility agreements with banks for green hydrogen plant

    (MENAFN) NEOM Green Hydrogen Co. has inked credit facility deal with domestic, regional and global banks, in line with the execution of a commitment letter with the Saudi Industrial Development Fund to establish a green hydrogen-located ammonia output plant.

    To be recorded at USD500-billion Giga-venture NEOM, the plant is going to add up to 4 gigawatts of solar as well as wind energy to generate up to 1.2 million tons of green ammonia converting to up to 600 tons a day of carbon-free hydrogen, as said by a press meeting.

    NGHC, an equivalent mutual project established by ACWA Power, Air outputs and NEOM, stated that the development is going to be the glob’s biggest green hydrogen-based ammonia output plant when it starts functioning within 4 years (2026).

    It also mentioned that 100 percent of the green hydrogen outputted is going to be obtainable for worldwide shipment, in the form of ammonia, via an exclusive long-term deal with Air Products.

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