NEOM to become top producer of low-cost hydrogen
Saudi Arabia is rapidly advancing its position as a global frontrunner in
both the production and utilization of hydrogen as a clean energy source. By
2026, it aims to complete the construction of the world's largest green
hydrogen plant in the NEOM region.
This strategic move underscores the Kingdom's steadfast commitment to renewable energy and sustainability.
In its recent publication titled "The Clean Hydrogen Economy and Saudi Arabia," the King Abdullah Petroleum Studies and Research Center (KAPSARC) spotlighted the Kingdom's attainment of the lowest cost of electricity production from renewable sources.
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Arabia's Neom Green Hydrogen Project to become a trend-setter in clean energy
The book delves into the challenges confronting Saudi Arabia in the clean hydrogen sector while exploring global endeavors and solutions to bridge technological gaps.
The NEOM Green Hydrogen Company has made remarkable progress in erecting the world's most extensive green hydrogen production facility in the industrial city of "Oxagon" within the NEOM region.
With an investment totaling $8.4 billion, this facility is poised to furnish clean energy on a monumental scale globally, marking a significant stride in sustainable energy generation.
Moreover, the book notes that the production of green hydrogen in NEOM is projected to cost less than two dollars per kilogram, positioning it among the most cost-effective rates worldwide.
As the costs of electricity and green technologies decline, the production costs of green hydrogen are expected to follow suit, as outlined in the publication.
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Green Hydrogen Initiative aligns with Saudi Vision 2030 goals
It underscores that Saudi Arabia not only possesses abundant reserves of inexpensive fossil fuels but also boasts sustainable energy sources, cementing its stance in future energy markets.
Leveraging one of the world's most economical renewable energy resources, Saudi Arabia stands poised to mitigate carbon removal expenses nationwide. NEOM stands primed to supply renewable energy for the production of low-carbon chemicals, steel, aluminum, fertilizers, and mining operations.
The versatility of hydrogen extends to stabilizing electricity systems, storing energy, and fueling both terrestrial and maritime transportation, as elucidated in the book.
Backed by ample renewable resources, expansive inexpensive land, and supportive regulatory frameworks, NEOM stands as a beacon for becoming a preeminent global hub for low-cost hydrogen production.
Source: https://english.aawsat.com/
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