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NEOM Green Hydrogen Project

Construction✓ Source-checked

NEOM Green Hydrogen Company (NGHC) — JV: Air Products / ACWA Power / NEOM (33% each)

Source: IEA Hydrogen Projects Database (September 2025)

Project Overview

Country: Saudi Arabia
Region: Tabuk
Capacity: 2,200 MW
Technology: Alkaline Electrolysis
Investment · scope not declared (USD): $8.4B
Subsidy Status: —

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Development Timeline

AnnouncedJul 2020

FIDMay 2021

ConstructionJul 2021

Operational—

Readiness Score

72/ 100

Advanced

Weighted checklist of public info. Not a prediction of success.

Development

✓Final Investment Decision+15

✓EPC Contract signed+10

✓Permits obtained+8

✓Grid connection secured(implied)+7

Commercial

✓Binding offtake agreement+15

✓MOU / offtake letter of intent(implied)+5

✓Confirmed price / tariff+5

✗Applied to government program+5

Financing

✓Project finance / debt secured+10

–Subsidy (not recorded)+0

Track Record

✗Developer has completed H2 project+5

✗Developer has completed RE project+3

✓Developer has energy experience+2

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