Saudi Arabia has announced that it will begin its construction of a green H2 plant as early as this month as it moves forward in its strategy to ease the dependence of its economy on fossil fuel exports. Hydrogen is expected to be central to the global efforts to transition to cleaner energy sources. It is expected that much of the exports from the green H2 plant will be shipped to meet demand from Asian and American companies.
Shipments from the green H2 plant will be sent to the bidder who has the most money to offer.
"There’s a potential competition between Europe, Japan, South Korea and some parts of the U.S.,” explained Peter Terium NEOM's Managing Director of Energy, Water and Food. The renewable hydrogen shipments will be sold “to those who bid the highest price."
Terium is a former RWE AG CEO from Germany. The NEOM project, named Helios, will involve a green H2 plant producing hydrogen with renewable energy without any carbon emissions.
Read the full story at Hydrogen Fuel News