The project will be situated near Neom city
FID due on Neom this year
Project worth $5bn is progressing, says Acwa Power on Q3 results call
Saudi utility Acwa Power hopes to take FID on the $5bn Neom green hydrogen project before the end of the year, the firm says. The Neom development is owned by Acwa (with 33.3pc), US industrial gases company Air Products (also with 33.3pc) and state economic zone developer Neom Company (with 33.34pc) each own a share of the Neom development—the largest planned green hydrogen project in the world, which is due to produce 1.2mn t/yr of green ammonia to be sold by Air Products to global markets. “We are making solid progress at the Neom green hydrogen company, where we are working toward achieving financial close by the end of this year,” says Acwa CEO Paddy Padmanathan. The project partners awa
Also in this section
18 February 2026
Norwegian energy company has dropped a major hydrogen project and paused its CCS expansion plans as demand fails to materialise
4 February 2026
Europe’s largest electrolyser manufacturers are losing patience with policymakers as sluggish growth in the green hydrogen sector undermines their decision to expand production capacity
2 February 2026
As a fertiliser feedstock, it is indispensable, but ammonia’s potential as a carbon-free energy carrier is also making it central to global decarbonisation strategies
28 January 2026
The development of hydrogen’s distribution system must speed up if the industry is to stand any chance of grabbing a meaningful slice of the low-carbon energy market
