{"id":75322,"date":"2022-12-20T02:00:25","date_gmt":"2022-12-20T02:00:25","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2022\/12\/20\/neom-to-achieve-financial-close-on-usd-5-bn-green-hydrogen-plant-early-2023\/"},"modified":"2022-12-20T02:00:25","modified_gmt":"2022-12-20T02:00:25","slug":"neom-to-achieve-financial-close-on-usd-5-bn-green-hydrogen-plant-early-2023","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2022\/12\/20\/neom-to-achieve-financial-close-on-usd-5-bn-green-hydrogen-plant-early-2023\/","title":{"rendered":"Neom to achieve financial close on USD 5 bn green hydrogen plant early 2023"},"content":{"rendered":"

<\/a> Neom pens financing agreements for green hydrogen plant: <\/strong>The Neom Green Hydrogen Company (NGHC) signed facility agreements with Saudi and international banks, submitting a letter of intent to the Saudi Industrial Development Fund (SIDF) to secure the operating capital for Neom\u2019s USD 5 bn green hydrogen project<\/a>, according to a statement<\/a>. Neom will achieve financial close for the project early in 2023, the statement notes.<\/p>\n

Financed with help from the government:<\/strong> There is \u201csignificant participation\u201d from the SIDF and KSA\u2019s National Infrastructure Fund in the undisclosed financing facilities that Neom will earmark for its project, the statement says, without providing further detail.<\/p>\n

What we know about the project:<\/strong> The plant \u2014 a JV between Neom, US-based gas supplier Air Products<\/a> and Saudi Arabia\u2019s Acwa Power \u2014 promises to be the world\u2019s largest utility-scale green hydrogen facility, producing 1.2 mn tons of green ammonia annually. The plant will source its power needs from renewable energy projects totaling nearly 4 GW and is expected to be operational in 2026.<\/p>\n

Geared towards export:<\/strong> \u201c100% of the green hydrogen produced will be available for global export, in the form of ammonia, through an exclusive long-term agreement with Air Products,\u201d the statement notes.<\/p>\n

And Europe may be getting a slice:<\/strong> Air Products may export larger quantities of the region\u2019s hydrogen to Germany, we previously wrote<\/a>. The company, along with energy company Mabanaft, will build a green hydrogen terminal in Germany to facilitate imports, according to a company statement<\/a>. The project, which is set to become operational by 2026, will be located in Hamburg\u2019s port, facilitating the import of green ammonia from large-scale green hydrogen production facilities operated by Air Products and its partners \u2014 including Neom. Greece has also been exploring green hydrogen imports from Saudi\u2019s Neom, with plans to lay a cable connecting Saudi to Europe, we reported<\/a> in October.<\/p>\n","protected":false},"excerpt":{"rendered":"

Neom pens financing agreements for green hydrogen plant: The Neom Green Hydrogen Company (NGHC) signed facility agreements with Saudi and international banks, submitting a letter of intent to the Saudi Industrial Development Fund (SIDF) to secure the operating capital for Neom\u2019s USD 5 bn green hydrogen project, according to a statement. Neom will achieve financial […]<\/p>\n","protected":false},"author":1,"featured_media":75323,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[269],"tags":[11,39,89,159,42,46],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-75322","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-green-hydrogen","tag-enterpriseclimate","tag-green-hydrogen","tag-neom","tag-saudi-arabia","tag-solar-energy","tag-wind-energy","wpautop","entry"],"acf":{"mongo_id":"667db3a4-e073-4568-bb2e-5ea77b26e032","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/12\/4222.jpg","photo_position":"above","related_issue":[75318],"teaser":"","voice_url":""},"yoast_head":"\nNeom to achieve financial close on USD 5 bn green hydrogen plant early 2023 - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2022\/12\/20\/neom-to-achieve-financial-close-on-usd-5-bn-green-hydrogen-plant-early-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Neom to achieve financial close on USD 5 bn green hydrogen plant early 2023\" \/>\n<meta property=\"og:description\" content=\"Neom pens financing agreements for green hydrogen plant: The Neom Green Hydrogen Company (NGHC) signed facility agreements with Saudi and international banks, submitting a letter of intent to the Saudi Industrial Development Fund (SIDF) to secure the operating capital for Neom\u2019s USD 5 bn green hydrogen project, according to a statement. 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