Acwa Power announces $900mn EPC contract win for Neom Green Hydrogen Project
Acwa Power Company owns 33.3% in the Neom Green Hydrogen Company alongside Air Products (33.3%) and Neom Company (33.4%)
Saudi-based Acwa Power has signed a $900mn engineering, procurement and construction (EPC) agreement for the Neom Green Hydrogen Project, which is taking shape within Neom in Saudi Arabia. The project is being jointly developed by Acwa Power, Air Products and Neom.
According to a statement, the project will be the largest green hydrogen production facility in the world. It will use over 4GW of combined renewable energy to generate the power needed for producing green hydrogen.
The signing of the Limited Notice To Proceed (LNTP) agreements was in relation to the EPC contract for the largest green ammonia facility in the world, with an expected capacity of 1.2mn tonnes per annum coming up in Neom, stated Acwa Power in its filing to the Saudi bourse Tadawul.
The LNTP agreements included: In-kingdom LNTP in relation to the EPC contract between Neom Green Hydrogen Company and Air Products Middle East Industrial Gases; Out-of-Kingdom LNTP in relation to the EPC contract between Neom Green Hydrogen Company and Air Products Equipment limited; Parent Company Guarantee And Co-Ordination Deed for the LNTP in relation to the EPC contract between Neom Company, Acwa Power Company, Air Products Saudi Arabia Investment Company, Air Products Equipment, Air Products Middle East Industrial Gases and Air Products and Chemicals, the statement concluded.