Saudi Arabia’s Acwa Power Co. plans to build the kingdom’s second multibillion-dollar green hydrogen plant, despite struggles to sell output from the first project.
Acwa Power has selected Tecnicas Reunidas SA and China’s Sinopec Guangzhou Engineering to carry out a front-end engineering design contract for the project, the Madrid-based firm said in a trading notice on Saturday.
>> In Other News: Carbon Ridge Deploys Shipping’s First Centrifugal Carbon Capture System in Partnership with Scorpio Tankers
The Yanbu plant will include 4 gigawatts of electrolysis capacity that will use wind and solar energy to split water molecules, generating 400,000 tons per year of green hydrogen, according to the statement.
Acwa Power did not immediately respond to a request to comment.
Saudi Arabia’s decision to launch another green hydrogen project signals its continued support for the nascent industry, despite enormous uncertainty over global demand for the product, which can be used as a fuel or fertilizer.
Acwa Power is one of the developers of a 4-gigawatt green hydrogen project within Neom, where partner Air Products & Chemicals Inc. has so far struggled to find buyers. The developer expects the $8.5 billion Neom plant to produce around 219,000 tons of green hydrogen, much less than the Yanbu project.
Tecnicas Reunidas and Sinopec will carry out the preliminary design work over the next 10 months. After that, they will seek a contract to build the plant, Tecnicas Reunidas said. Commercial operations are slated to start by 2030.
The project is intended to serve export markets. Acwa Power signed memorandums of understanding with Edison SpA, TotalEnergies Renewables SAS, Zhero Europe BV and EnBW Corp. to create a supply chain for green hydrogen from Saudi Arabia to Europe earlier this month.
Subscribe to the newsletter
Daily decarbonization data and news delivered to your inbox
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Latest issues
-
North Dakota Facility Starts Delivering Real CO₂ Removal
Inside This Issue 💰 Gevo Sells Carbon Credits from North Dakota Asset ⚡ US Companies CPS Energy, Modern Hydrogen Agree to Work on Clean Power Generation Project ✈️ ESAF Takes Flight: Power-to-Liqu...
-
Carbon Waste Just Became a Gold Mine
Inside This Issue 💰 Gevo Transforms Carbon Waste Into Market Gold 🛫 CADO and 4AIR Harmonize SAF Registries for Commercial and Business Aviation 🌊 Vortex Energy Receives Government Approval for Amb...
-
US Carbon Capture Race: $77B Industry Shifts Global Balance
Inside This Issue 🌎 US Carbon Capture Race: $77B Industry Shifts Global Balance 🛠️ NETL Releases Tool To Calculate Costs of Geologic Carbon Storage Projects in the Gulf of America ✈️ Avia Solution...
Company Announcements
-
SLB Awarded Carbon Storage Contract for Northern Endurance Partnership Project in UK
Global energy technology company SLB (NYSE: SLB) has been awarded a technologies and services contract for carbon storage site development in the North Sea by the Northern Endurance Partnership (NE...
-
SANTA MONICA, Calif. & HOUSTON—Carbon Ridge, a leading developer of onboard carbon capture and storage solutions for the maritime industry, has achieved a shipping industry first with the succe...
-
Decarbontek Launches Commercial Production and Sale of Breakthrough Low-Cost MOF for Carbon Capture
BOSTON--Decarbontek, Inc., a leader in carbon capture and removal technologies, today announced the commercial availability of DCF-1 (De-Carbon Framework -1), a groundbreaking, low-cost, high-perfo...
-
Amogy, a provider of scalable and efficient ammonia-to-power solutions, today announced a landmark partnership with GreenHarvest, a Taiwan-based renewable energy firm, to deploy the first-ever ammo...