Today marks the 8th anniversary of the announcement of Saudi Vision 2030, our nation’s ambitious march towards an innovative, sustainable, and prosperous future. It is a strategic framework which respects Saudi Arabia’s rich heritage while propelling us into a leadership role in the global energy transition, as the world responds to the challenges of climate change.
As the CEO of NEOM Green Hydrogen Company (NGHC), I am leading an organization that is aligned with the ambitions of Vision 2030 by building the world’s largest green hydrogen plant at Oxagon in Saudi Arabia’s northwestern region of Neom. Once fully operational in 2026, NGHC will produce up to 600 tonnes of green hydrogen per day for export worldwide, providing a carbon-free fuel that could decarbonise buses, heavy-duty trucks, and industrial processes, saving the planet up to five million tonnes of CO2 annually.
Despite many green hydrogen projects in development stages around the world – especially in the Middle East given the abundance of available land, sunny climate, and renewable expertise – only NGHC has investment secured, construction well underway and full production in sight.
What factors have led to NGHC’s acceleration while other projects are still getting off the ground? More importantly perhaps, how can those factors be replicated elsewhere so clean hydrogen production can be ramped up at the pace needed to meet projected global demand?
One significant factor in NGHC’s competitive advantages was the backing of our shareholders – ACWA Power, Air Products and NEOM – who were key to securing the $8.4bn investment required. Our shareholders laid the foundations that gave confidence to our investors and partners, including through a 30-year agreement with Air Products to take 100% of our green hydrogen for a 30-year period. Our location in NEOM also provides us to unlimited access to solar and wind energy to power our plant which will produce carbon free green hydrogen.
But there is another unique aspect to NGHC’s project: we are proudly Saudi Arabian. With Vision 2030 running through our project like a lifeblood, NGHC has been able to build at unprecedented scale and speed. Only Saudi Arabia has the ambition and vision to bring a project like NGHC’s to life as we mark the anniversary of Vision 2030, we should celebrate and be proud of the significant progress that has already been made towards its aims.
Looking ahead, NGHC plant is poised to be a benchmark for the growing clean hydrogen industry as the energy transition accelerates globally. It’s anticipated that one-third of the global green hydrogen will be traded across borders by 2050, greater than the current proportion of globally traded natural gas, which stands at 24%.
Diversification also means new jobs, with the clean energy industry already employing over 50% of the total energy workers worldwide, thanks to the growth of new projects. At NGHC, we are creating a pathway for talented young Saudi nationals to become leaders in delivering sustainable climate solutions. Our training programmes and inclusive approach will empower today’s Saudi youth to kickstart a worldwide clean hydrogen economy.
As we strive for the goals set out in Vision 2030, Saudi Arabia is not just participating in the global energy transition; the Kingdom is setting the pace and leading it from the Middle East. Our nation is demonstrating its capability and determination to innovate and lead emerging clean industries, ensuring a sustainable and thriving future for our nation and the world.
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