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Saudi Arabia's NEOM Green Hydrogen Company (NGHC) announced that construction of its green hydrogen plant in Oxagon is more than 80% complete, marking a significant milestone in the country's clean energy transition. L390Q steel, NGHC is a joint venture between Saudi Arabia's ACWA Power, Air Products, and NEOM.
According to official information, significant progress has been made in the hydrogen production facility, photovoltaic and wind power infrastructure, and supporting power transmission network. Key equipment such as electrolyzers, storage tanks, cold boxes, and pipe racks have been installed successively, and construction is proceeding at full speed to ensure timely commissioning. L390Q steel, It is understood that the plant plans to utilize 4GW of renewable energy (photovoltaic + wind power) to produce 600 tons of green hydrogen per day, which will be converted into ammonia for easier transportation. It is expected to begin production in 2026 and achieve its first shipment in 2027.
The project, with a total investment of US$8.4 billion, completed its financing in May 2023, securing US$6.1 billion in non-recourse financing from 23 local, regional, and international banks and investment institutions. Simultaneously, NGHC signed a US$6.7 billion EPC turnkey contract with Air Products, agreeing to have Air Products exclusively purchase all of its green ammonia products over the next 30 years.
Once completed, the project will become the world's largest integrated green hydrogen energy facility, which will not only strengthen Saudi Arabia's position in the global energy transition, L390Q steel, but also provide strong support for achieving the economic diversification and carbon reduction goals under the "Vision 2030".
