ACWA Power, the Saudi utility company, and US-based Air Products have gone ahead and finished off construction of a green hydrogen project worth $8.5bn at Oxagon in NEOM. The commercial operations pertaining to the project are expected to start in 2027.
It is well to be noted that the NEOM Green Hydrogen Company – NGHC is a JV between ACWA Power and Air Products as well as NEOM. It is now commissioning the facility. Samir Serhan, the ACWA Power CEO, went on to confirm during a recent earnings call with analysts as well as investors.
Once the green hydrogen project worth $8.5bn is completely functional, it is most likely to become the largest green hydrogen plant in the world, producing almost 600 tons of carbon-free hydrogen every day. The hydrogen is going to be converted into green ammonia so as to export it to international markets.
Apparently, the project is designed to showcase the commercial-scale production of green hydrogen by way of utilizing renewable energy, with the output powered by the integration of both solar as well as wind generation.
NGHC had confirmed in March 2026 that the renewable energy assets of the project, including the wind farm and solar farm as well as the transmission network, were almost 95% complete.
The company confirmed that the project is on schedule, with almost 4 GW of combined solar and wind power generation most likely to get completed by mid-2026. It will thereafter be followed by commissioning of the electrolyzers with first green ammonia product availability all set for 2027.
Interestingly, the project forms part of the broader efforts by the Kingdom to become a competitive clean-energy industry and also create certain new export markets as it diversifies its economy as per its Vision 2030.
It is also anticipated to give a reference point in terms of future large-scale hydrogen developments as nations and organizations search for lower-carbon options for certain hard-to-abate sectors and simultaneously look to build global supply chains when it comes to clean fuels.