NEOM Green Hydrogen Company completes financial close at a total investment value of $8.4bln in the world’s largest carbon-free green hydrogen plant

NEOM Green Hydrogen Company completes financial close at a total investment value of $8.4bln in the world’s largest carbon-free green hydrogen plant

- The project at a total value of USD8.4 billion is being financed with USD 6.1 billion non-recourse financing from 23 local, regional and international banks and financial institutions.

- An exclusive 30-year off-take agreement of all the produced green ammonia has been secured.

- NGHC concluded the Engineering, Procurement and Construction (EPC) agreements with Air Products at a value of USD 6.7 billion.

NEOM, Saudi Arabia: NEOM Green Hydrogen Company (NGHC) today announced that following signing financial documents with 23 local, regional, and international banks, and investment firms, it has now achieved financial close on the world’s largest green hydrogen production facility at a total investment value of USD 8.4 billion. The plant is currently being built at Oxagon, in Saudi Arabia’s region of NEOM. NGHC has also concluded the engineering, procurement, and construction (EPC) agreement with Air Products as the nominated contractor and system integrator for the entire facility.

Additionally, NGHC also announced that the non-recourse financing structured for the project has been certified by S&P Global (as the second party opinion provider) as adhering to green loan principles and is one of the largest project financings put in place under the green loan framework. Air Products has already awarded major contracts