Saudi Arabia’s Acwa Power Eyes Three More Giant Hydrogen Plants
- Acwa planning more projects inside Neom and another location
- Power producer has closed financing for first hydrogen project
Paddy Padmanathan
Photographer: F. Carter Smith/BloombergThis article is for subscribers only.
Saudi Arabian energy company Acwa Power is planning to develop as many as three more green hydrogen plants on a similar scale to its vast project being built at Neom.
Acwa has plans to develop two more projects adjacent to a $8.5 billion green hydrogen plant at Neom, a $500 billion new city on Saudi Arabia’s north-west coast, chief executive officer Paddy Padmanathan said in an interview. The company is also looking at another location, confident that demand for the fuel will rise as governments and companies accelerate plans to reduce their carbon emissions, he said.