The Chinese company JinkoSolar has signed an agreement to supply 1 GW of solar modules for the NEOM Green Hydrogen Project in Saudi Arabia, led by the Saudi company ACWA Power. The order was placed by the Indian engineering major Larsen & Toubro, which is in charge of the renewable energy generation, storage and grid infrastructure for the NEOM project.
NEOM Green Hydrogen Company (NGHC), an equal joint venture between Saudi Arabia’s ACWA Power, Air Products and NEOM, reached financial close on its US$8.4bn large-scale green hydrogen production facility project in 2023. NGHC’s green hydrogen plant will integrate up to 4 GW of solar and wind capacity to produce up to 600 t/day (219 kt/year) of carbon-free hydrogen by the end of 2026, in the form of green-ammonia meant for the global transport and industrial sectors.
Saudi Arabia plans to develop green hydrogen production, carbon capture, use and storage (CCUS), to reduce global methane emissions in 2030 by 30% (compared to 2020 levels), and to reach 50% renewable energy in the production capacity by 2030 and net-zero emissions by 2060.
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