Acwa Power JV closes financing on $8.5bn green hydrogen project in Neom

In the United Arab Emirates (UAE), Zawya reported that Saudi Arabian utility developer ACWA Power has signed financing agreements for a total investment of $8.5 billion for the NEOM Green Hydrogen Project (NGHP), which is expected to be commissioned in 2026. According to the report, the investment funded by a combination of long-term debt and equity was agreed with NEOM Green Hydrogen Company (NGHC), a joint venture between ACWA Power, Air Products and NEOM Company, with ACWA Power holding a 33.3% equity stake. NGHP comprises the end-to-end set up and operation of a green hydrogen and green ammonia facility in the NEOM region of Saudi Arabia.

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