Air Products, ACWA Power and NEOM to set up $5 billion project for production and export of green hydrogen

Air Products, along with ACWA Power and NEOM have signed an agreement for a $5 billion green hydrogen-based ammonia production facility. The green ammonia produced will be exported to global markets. The project will be equally owned by the three partners and will be set up in NEOM, an upcoming sustainable city located in the north west corner of the Kingdom of Saudi Arabia.

The joint venture project is the first partnership for NEOM with leading international and national partners in the renewable energy field. The project is based on a proven technology and will include the integration of over four GW of renewable power from solar, wind and storage; production of 650 tons per day of hydrogen by electrolysis using thyssenkrupp’s technology; production of nitrogen by air separation using Air Products’ technology; and production of 1.2 million tons per year of green ammonia using HaldorTopsoe’s technology. The project is scheduled to be commissioned by 2025.

According to the agreement, Air Products will be the exclusive off-taker of the green ammonia and intends to transport it across the world to be separated to produce green hydrogen for the transportation market.

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