NEOM Green Hydrogen Company (NGHC)
an equal production joint venture of ACWA Power, Air Products and NEOM, is establishing the world’s largest green-hydrogen-based ammonia production facility run on renewable energy. This mega-plant will produce up to 600 tonnes per day of carbon-free hydrogen in the form of green ammonia as a cost-effective solution for transportation and industrial sectors globally.
This project is based on proven technologies. Novel aspects include the integration of these technologies, particularly at this scale, and utilizing ammonia to transport the hydrogen to global markets. The project will save the world about five million metric tonnes per year of carbon emissions (CO2).
Construction in final completion, and commissioning started with energization. The NEOM Green Hydrogen project includes:
257 wind turbines to generate 1.6 GW of clean wind energy.
A solar farm the size of Manhattan to produce 2.2 GW of solar power.
A dedicated transmission grid being constructed to carry 4 GW of renewable energy across the site.
Once operational, the facility will export up to 1.2M tonnes of green ammonia annually via a purpose-built jetty, supporting global energy and decarbonization efforts.
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In all cases, the Promoter must cover the running costs prior to obtaining a construction permit. These costs will be considered the contribution of the Promoter to the Project. The cost of land or obtaining rights to it is also paid by the Promoter.
It is supposed to study which option is most convenient for the Promoter in each case.
3. A flexible combination of Bank Financing and contributions from Financial Investors is proposed for the period of construction and at least 15 years of operation of the facility, replacing the traditional Project Financing.
SPV will be created only for the construction of the project in which the loan guarantor will have a majority stake only during the construction period. The necessary credit will be insured by external guarantees in such a way that the Promoter?s Bank will have no problem in financing the construction.
At the end of the Construction the Assets will be acquired by an Investor who will receive an annual income for at least 15 years, giving the option to buy back the Asset to the Operating Company. The future annual income of the Investor must have a guarantee from the Operators Bank