On July 30, foreign media reported that Saudi International Power and Water Company (ACWA Power) announced plans to spend billions of dollars to build a second green hydrogen plant in Yanbu, Saudi Arabia. It is expected to be put into commercial operation around 2030.
It is reported that the plant will have 4G W electrolytic capacity, using wind and solar power generation, with an annual output of 400000 tons of green hydrogen. This hydrogen will be converted into green ammonia for global export.
Earlier, on July 22, Saudi International Power and Water Company had signed a series of memorandums of understanding with Italian, French, Dutch and German companies to establish a green hydrogen supply chain from Saudi Arabia to Europe.
Saudi Arabia plans to invest up to $270 billion in the energy sector by 2030 and has set an ambitious target of supplying 10% of the world's hydrogen exports.
The first green hydrogen project, Saudi New Future City (NEOM) green hydrogen project, produces nearly 220,000 tons of green hydrogen annually. It is planned to complete the commissioning of electrolyzers in 2026 and enter the commercial delivery stage in 2027.
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