NEOM Green Hydrogen Company signs facility agreements with banks

NEOM Green Hydrogen Company signs facility agreements with banks

NEOM Green Hydrogen Company (NGHC), an equal joint venture (JV) created by ACWA Power, Air Products and NEOM, building the world’s largest plant to produce green hydrogen at scale, has signed facility agreements with local, regional and international banks along-with execution of a commitment letter with Saudi Industrial Development Fund (SIDF).

The financing for the world’s largest green hydrogen production facility located in NEOM is structured with significant participation from SIDF and the National Infrastructure Fund (NIF).

David Edmondson

CEO – NGHC “NGHC has a clear mission, to leverage the expertise and vision of its partners to accelerate the global green hydrogen economy. This is fully in line with Vision 2030 and the goals of the Saudi Green Initiative. The recent convening of the investment community in Riyadh is an important step towards the milestone of achieving financial close in early 2023, to deliver the world’s largest facility to produce green hydrogen at scale. We are grateful for the significant support from our shareholders and the investment community to making that happen.”

NGHC’s mega-plant will integrate up to 4GW of solar and wind energy to produce up to 1.2 million tons of green ammonia translating to up to 600 tons per day of carbon-free