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NEOM to start renewable auctions next year for their electrolyser project

NEOM will initially be powered by up to 50 percent grid-connected energy from non-renewable sources and the first renewable energy auctions for the futuristic development will come online next year, a senior official at NEOM told Zawya Projects on the sidelines of the Siemens Energy Week on Monday.

Thorsten Schwarz, Executive Director Grid Technology & Projects, NEOM said: “We are looking at the first auctions to come online next year. We are looking at private investors related to the electrolyser project announced between ACWA POWER, ENOWA and Air products recently alone to build 4.5 gigawatts of renewable power.”

Schwarz said NEOM is ahead of its time and expects to address several issues in the next couple of years. The first utility energy deliveries are scheduled for 2024-25.

Read the full story at Zawya

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