Saudi Arabia will begin construction of a green hydrogen plant just this month, with plans to export fuel in about four years.
According to new Territory Energy and Water chief Peter Teriyam, the Kingdom will be selling carbon-free hydrogen by the year 526 on a $ 5 billion project in Neom. Engineers in northwestern Saudi Arabia have completed the flattening of the site and US-based Air Products and Chemicals Inc. will quickly start constructing the facility, he stated.
World’s first giga-scale green hydrogen electrolyser set for Saudi
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Chief executive officer of Germany’s RWE AG
Terrium, chief executive officer of Germany’s RWE AG, said in an interview that there is probably a demand from companies from Asia to the US for exports. Hydrogen is the key to the transition to pure forms of energy.
“There is capacity opposition among Europe, Japan, South Korea and elements of the US,” stated Terium. Shipments are bought to “folks who bid higher.”
File photo of Peter Terriam, former CEO of RWE AG in Germany, in an interview with Reuters. (Reuters)
Saudi Arabia dreamed to be the world’s largest hydrogen exporter.
The fuel emits water vapor only when it is burned, making it less polluting than oil, natural gas, and coal. The technology to produce it in bulk has not yet been proven, but according to BloombergNEF, if the manufacturers cut costs, the market could be worth $ 700 billion annually.
Riyadh believes oil demand has been high for decades and is spending billions of dollars to boost its crude-producing capacity. Yet Crown Prince Mohammed bin Salman pursuits to diversify the financial system and hydrogen is an crucial a part of his strategy.
State oil company Saudi Aramco is leading the country’s efforts to produce blue hydrogen by converting gas and capturing carbon dioxide emissions.
The Niome project, known as Helios, is led by a consortium including Air Products and ACWA Power International, Saudi Utility. Green hydrogen is crafted from renewable energy.
Companies use 120 Thyssenkrupp AG electrolyzers, each about 40 meters long, to separate hydrogen from water. The fuel is shipped from Saudi Arabia as ammonia, which is easy to transport hydrogen in the form of gas.
The project is “a giant in size and constantly presents you with unknown challenges,” said Terium, chief executive officer of RWE AG, Germany’s largest utility.
The plant is powered by about 4 gigawatts of solar and wind power, the largest being built globally. The area was chosen because of the abundance of sunlight, wind and empty land to place solar panels and turbines.
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