ESG Today writes that NGHC is a joint venture established in 2020 by renewable energy company ACWA Power, industrial gases producer Air Products and Saudi Arabia development project NEOM with the aim to build the world's largest green hydrogen production facility. The daily production of around 600 tons of green hydrogen could start in 2026.
As much as 4 GW of solar and wind power will be assisting the zero-carbon hydrogen generation. Currently, the world produces up to 90 million tons of hydrogen per year, but most of it is coming from fossil-sources, so it is not considered green hydrogen.
David R. Edmondson, Chief Executive Officer of NGHC, said that "I’m excited to announce that NGHC, together with our three partners ACWA Power, Air Products and NEOM, has achieved another significant milestone in our project by achieving financial close on the world’s largest green hydrogen plant with 23 banks and investment firms."
"This is a historic moment as we drive large-scale adoption of green hydrogen as the clean solution to the world’s growing energy demands."
NGHC has also announced a 30-year offtake agreement with Air Products, which will be benefit from all of the green ammonia produced at the facility.