Saudi Arabia’s $8.4bn Neom Green Hydrogen project became by far the largest such project globally to move to the construction phase when it achieved financial close in May. The project’s website says “construction [is] well underway,” whilst Seifi Ghasemi, CEO of lead foreign partner Air Products, told his firm’s 7 November earnings call it is “moving forward very nicely. We are almost done with the engineering. We are actually constructing the plant.”
That said, in adding that the “project is expected [online]… at the end of 2026, beginning of 2027,” Mr Ghasemi’s comments mark something of an easing from the official “fully operational in 2026” target. The latter was repeated by the NEOM Green Hydrogen Company (NGHC) – an equal JV grouping Air Products, Saudi firm Acwa Power and the Neom subsidiary of Saudi Arabia’s PIF sovereign wealth fund – in its own 7 November release marking the delivery of the first of the project’s 250 planned wind turbines, with “additional turbines expected to be delivered by the end of the year.” (CONTINUED - 543 WORDS)
