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Saudi Arabia’s Neom and ACWA Power sign $5 billion agreement with Air Products

Air Products, in conjunction with ACWA Power and NEOM, revealed in a statement, the signing of an contract for world-scale green hydrogen based ammonia production facility powered by renewable energy.

The value of signed contract is $5 billion.

The project, which will be equally owned by the 3 partners, will be sited in NEOM, located in the north west corner of the Kingdom of Saudi Arabia.

The produced green ammonia will be exported to global markets.

The project will comprise over 4 GW of renewable power that will generate from solar, wind and storage system.

The project’s production capacity will be 650 tons per day of hydrogen. The project will be utilize thyssenkrupp technology production of nitrogen by air separation using Air Products technology and production of 1.2 million tons per year of green ammonia using Haldor Topsoe technology.

Air Products will be the exclusive off-taker of the green ammonia and intends to transport it approx the world to be dissociated to produce green hydrogen for the transportation market.

As per the report, this project will produced a totally clean source of energy on a extensive scale and will save the world over 3 million tons of CO2 emissions yearly and eliminate smog-forming emissions and other pollutants from the equivalent of over 700,000 cars.

The project is scheduled to be in operation by 2025.   

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