NEOM Green Hydrogen Company announces financial close of $8.4bn for World’s Largest Green Hydrogen Project

NEOM Green Hydrogen Company announces financial close of $8.4bn for World’s Largest Green Hydrogen Project

Nadhmi Al-Nasr, Chairman, NEOM Green Hydrogen Company, and Chief Executive Officer, NEOM said:

“This substantial financial backing from the investment community shows the unmatched potential of NGHC’s green hydrogen project. With the financial close announced today, we are taking a massive leap towards opening the plant, in line with NEOM’s vision to accelerate renewable solutions.”

“At scale, this project is the first-of-its-kind internationally, leading the world in the hydrogen revolution. Harnessing the energy of NEOM’s abundant natural resources, NGHC’s project will pave the way for the large-scale adoption of green hydrogen, while driving Saudi Vision 2030’s sustainable development goals.”

David R. Edmondson, Chief Executive Officer of NGHC, said:

“I’m excited to announce that NGHC, together with our three partners ACWA Power, Air Products and NEOM, has achieved another significant milestone in our project by achieving financial close on the world’s largest green hydrogen plant with 23 banks and investment firms.

“This is a historic moment as we drive large-scale adoption of green hydrogen as the clean solution to the world’s growing energy demands. This has enabled us to also conclude the EPC agreements with Air Products for a value of USD6.7 billion. Today, we are already well underway building the world’s largest facility to produce