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