KSA’s NEOM Green Hydrogen Company (NGHC) has achieved financial close with 23 local, regional, and international banks and financial institutions for its USD 8.4 bn green hydrogen facility, according to a statement. The ambitious project — said to be the world’s largest green hydrogen production facility — will see some USD 6.1 bn provided in non-recourse financing by the banks and investment firms, it said. NGHC is a joint venture between NEOM, Acwa Power, and US-based gas supplier Air Products.

The mega plant — located at its floating industrial complex OXAGON — will produce up to 600 tons per day of no-carbon hydrogen in the form of green ammonia by the end of 2026, the statement said. It will have the capacity to produce 1.2 mn tons of green ammonia annually. The facility will source its power needs from up to 4 GW of solar and wind energy.

NEOM formally launched OXAGON as its integrated net-zero port and logistics hub powered entirely by clean energy. It is set to be home to several industries powered fully by renewables, including sustainable energy, autonomous mobility, water innovation, sustainable food production, health and well-being, technology, and digital manufacturing.

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