ACWA Power, Air Products and NEOM founded NGHC to be a key part of Saudi Arabia’s Vision 2030
Here’s the analysis given in the official website of NGHC about its production capability.
As per the analysis,
- It will produce 600 tonnes of carbon-free green hydrogen per day
- It will save the planet up to 5 million tonnes of CO2 every year
- It will create 300 direct jobs
Some of the key steps that NGHC is undertaking is worth of note. These are:
- Renewable Energy Source:
- The facility is set to run completely on renewable energy produced by specialized wind and solar farms located on-site, spanning across more than 300 square kilometers in total.
- Technology Partnerships:
- NGHC has formed collaborations with top-tier organizations such as Haldor Topsoe to advance green ammonia manufacturing and Baker Hughes for state-of-the-art hydrogen compression technology, guaranteeing the utilization of innovative solutions.
- Financial Support:
- NGHC has successfully finalized funding arrangements with a total of 23 domestic, regional, and global financial institutions and investment companies, amounting to SAR 22.9 billion (equivalent to around $6.1 billion).
With construction expected to be completed by 2026, this plant will play a vital role in Saudi Arabia’s Vision 2030, which emphasizes the need of A Vibrant Society, A Thriving Economy and An Ambitious Nation. This will give Saudi Arabia a global position in the Green Hydrogen Space.
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