Acwa Power inks $900 mn contract for Neom Green Hydrogen Project

Acwa Power, located in Saudi Arabia, has signed a $900 million engineering, procurement, and construction (EPC) contract for the Neom Green Hydrogen Project, which is now under development in Neom, Saudi Arabia. Acwa Power, Air Products, and Neom are working jointly on the project. According to Acwa Power's report to the Saudi market Tadawul, the signing of the Limited Notice To Proceed (LNTP) agreements was regarding the EPC contract for the world's biggest green ammonia factory, with a projected capacity of 1.2 million tonnes per year, which is coming up in Neom. The LNTP agreements included: in-kingdom LNTP about the EPC contract between Neom Green Hydrogen Company and Air Products Middle East Industrial Gases; in-kingdom LNTP in relation to the EPC contract between Neom Green Hydrogen Company and Air Products Middle East Industrial Gases; in-kingdom LNTP about the EPC contract Out-of-Kingdom LNTP about Neom Green Hydrogen Company and Air Products Equipment Limited's EPC contract; Guarantee and coordination with the parent company The statement closed with a deed for the LNTP regarding the EPC contract between Neom, Acwa Power, Air Products Saudi Arabia Investment Company, Air Products Equipment, Air Products Middle East Industrial Gases, and Air Products and Chemicals. Image Source