July 8, 2020 Read More →

U.S. Air Products & Chemicals announces 4GW green hydrogen project with Saudi Arabia’s ACWA Power

Greentech Media:

Air Products & Chemicals, the U.S. industrial gas giant, announced plans on Tuesday to build a green hydrogen plant in Saudi Arabia powered by 4 gigawatts of wind and solar power, the world’s largest such project announced so far.

The $5 billion plant will be jointly owned by Air Products, Saudi Arabia’s ACWA Power and Neom, a new mega-city planned near Saudi Arabia’s borders with Egypt and Jordan.

The completed facility will produce 650 tons of green hydrogen daily, enough to run around 20,000 hydrogen-fueled buses, Air Products said. The fuel will be shipped as ammonia to end markets globally then converted back to hydrogen. Ammonia production is expected to start in 2025.

Pennsylvania-based Air Products claims to be the world’s largest producer of hydrogen and a leader in the liquefied natural gas field technology. The company trades on the New York Stock Exchange with a market value of nearly $60 billion.

The project would be a big step forward for Saudi Arabia’s ambition for Neom to become an important global center for renewable energy and green hydrogen. The country is establishing Neom as a special economic zone, with an ambition to host 1 million people from around the world. “This is a pivotal moment for the development of Neom and a key element in Saudi Vision 2030 contributing to the Kingdom’s clean energy and circular carbon economy strategy,” Neom CEO Nadhmi Al Nasr said in a statement.

Speaking to analysts on a conference call on Tuesday, Air Products CEO Seifi Ghasemi said the company is confident the project will be viable without subsidies given the accelerating global race for low-carbon transport fuels. Any government support would be “icing on the cake.”

[John Parnell]

More: World’s largest green hydrogen project unveiled in Saudi Arabia

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