Germany-based Thyssenkrupp Nucera AG & Co KGaA, will supply electrolysers for a 2.2 GW hydrogen-to-ammonia production project in Northwest Saudi Arabia.
The project, worth USD 8.4 billion (EUR 7.81bn) reached financial closing last week, and was put forward by Neom Green Hydrogen Company (NGHC). The project is already under construction. NGHC is an equally owned joint venture of Saudi Arabia’s ACWA Power Com., Air Products and Neom.
As per the statement, these electrolysers are a key component of the project. The individual units are already the largest electrolysers ever built, with an individual capacity of 20 MW. 110 interconnected units are giving a total output of 2,200MW.
It is reported that a total of 110 alkaline water electrolysis modules by ThyssenKrupp will be powering the complex,which is slated to kick off operations by the end of 2026, as per the firm’s release.
The facility is coming up in Oxagon, located in Saudi Arabia’s northwestern province of Tabuk, and will be capable of producing 600 tonnes of green hydrogen daily. The process will use electricity from up to 4 GW of solar and wind generation capacity.
Air Products, US industrial gases company will be the sole off-taker of the ammonia under an exclusive 30-year supply agreement. Also, debt facilities of around USD 6.1 billion have been extended of the total investment volume of over USD 8.4 billion, to finance the scheme, with 23 international and regional lenders participating in the deal.
KfW Ipex-Bank is investing USD 325 million in the project. The firm’s statement said that its share is largely being used to finance the electrolysers supplied by ThyssenKrupp Nucera from Germany; this part is covered by the German export credit agency Euler Hermes.KfW IPEX-Bank is acting as the Euler Hermes coordinator and agent in the overall financing.
