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NEOM’s Green Hydrogen Project is Formally Under Execution

A city in NEOM, Oxagon will be a new paradigm where people, industries and technology come together in harmony with nature
A city in NEOM, Oxagon will be a new paradigm where people, industries and technology come together in harmony with nature
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NEOM’s Green Hydrogen Project is Formally Under Execution

A city in NEOM, Oxagon will be a new paradigm where people, industries and technology come together in harmony with nature
A city in NEOM, Oxagon will be a new paradigm where people, industries and technology come together in harmony with nature

The world’s largest green hydrogen project in Saudi Arabia’s NEOM has formally entered the construction stage.

In a statement, ACWA Power said that its affiliate NEOM Green Hydrogen Co. issued a full award notice to proceed with the engineering, procurement and construction, which has been approved.

ACWA Power further pointed out that its SR1.12 billion ($300 million) contribution in the limited notice to proceed will become part of its equity contribution to the project.

The statement added that all project agreements have been signed, and partners have agreed to manage certain execution risks related to the EPC contract.

The green hydrogen facility will be based at Oxagon within the Saudi futuristic city NEOM and is due for completion by the end of 2026.

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Saudi Arabia Joins International Partnership for Hydrogen and Fuel Cells in the Economy

Officials from the Saudi Energy Ministry after the official announcement of joining the International Partnership for the Hydrogen and Fuel Cells in the Economy (Saudi Energy Ministry)
Officials from the Saudi Energy Ministry after the official announcement of joining the International Partnership for the Hydrogen and Fuel Cells in the Economy (Saudi Energy Ministry)
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Saudi Arabia Joins International Partnership for Hydrogen and Fuel Cells in the Economy

Officials from the Saudi Energy Ministry after the official announcement of joining the International Partnership for the Hydrogen and Fuel Cells in the Economy (Saudi Energy Ministry)
Officials from the Saudi Energy Ministry after the official announcement of joining the International Partnership for the Hydrogen and Fuel Cells in the Economy (Saudi Energy Ministry)

The Saudi Energy Ministry announced Saturday that the Kingdom has officially joined the International Partnership for the Hydrogen and Fuel Cells in the Economy (IPHE), as part of its ongoing efforts to foster international collaboration in developing this vital sector.
This accession marks a major step for the Kingdom, reinforcing its pioneering role in global sustainability efforts and in innovating advanced solutions for clean energy, the Ministry said in a statement.
It aligns with Saudi Arabia’s ambition to become a key producer and exporter of clean hydrogen, and to achieve greenhouse gases (GHGs) net-zero through the circular carbon economy approach by 2060, or before depending on technology maturity and availability, the statement added.
Saudi Arabia’s involvement in IPHE underscores its commitment to international cooperation as a cornerstone for attaining a more sustainable energy future.
The move also supports the objectives of the “Saudi Green Initiative” and “Middle East Green Initiative,” which focus on reducing carbon emissions and stimulating global demand for clean hydrogen, according to the statement.
"It also aims to contribute to the development and harmonization of regulations and standards that bolster the clean hydrogen economy,” it added.
IPHE serves as a crucial platform for fostering collaboration among member states to expedite the advancement and deployment of hydrogen and fuel cell technologies.
The partnership is dedicated to exchanging knowledge, supporting relevant research and technologies, and raising awareness about the importance of clean hydrogen in achieving sustainable development.
In this spirit, Saudi Arabia actively participates in numerous international organizations and initiatives linked to the production of clean and low-emission fuels, including the Innovation Mission Initiative, the Clean Energy Ministerial Meeting, the Zero Neutrality Forum for Producers, the Global Methane Initiative, and other related efforts.