Name of Client : Neom Green Hydrogen Company

Estimated Budget : $750,000,000

Facility Type : Power Transmission Lines, Power Grid, Energy Storage, Solar, Wind, Substations

Sector : Power, Renewable

Main Contractor : Larsen & Toubro

Location : Neom, Saudi Arabia

Award Date : 2022-Q2

Status : Construction

Background

Neom, Acwa Power, and Air Products are collaborating to establish renewable energy sources for the Helios Green Fuels Project, which will power its operations. The project is based on world-class technologies that will include the innovative integration of a combined capacity of around four gigawatts of renewable power from onshore solar, wind and storage. The facility will utiliSe solar energy during the day and wind at night to eliminate the need for batteries and expensive storage solutions.

Project Scope

The scope of work includes a wind farm power plant with a capacity of 1680 MW, battery storage facilities for power storage of around 400 MW, electrical grid system to connect the various facilities, wind farm 380 kilovolts (kV) substation, and 380 kV bulk supply point (BSP) substation and transmission line.

The substation and transmission line scope will include 380 kilovolts (kV) gas insulated switchgear (GIS), medium voltage switchgear, power transformer, station service transformers, HV/MV power cables and terminations, AC/DC auxiliary power supply, Control/ protection system, substation automation system (SAS), communication system, fire detection/alarm and safety and fire protection system, civil/structural works and mechanical works, and 200-kilometer overhead transmission line.

Project Status

As of November 2023, NEOM Green Hydrogen Company (NGHC) has received its first delivery of wind turbines at the Port of NEOM, with additional turbines expected to be delivered by the end of 2023.

Project Finance

The Neom Green Hydrogen Company has been formed by a joint venture of Neom, Acwa Power, and Air Products to develop the project. 20 per cent of the project will be funded with equity, while the rest will be through limited-recourse debt.

ENOWA, Neom's subsidiary, represents Neom as the principal shareholder of the project.

Project Schedules

Project Announced : 4Q-2020

EPC ITB : 4Q-2020

EP : 2Q-2022

Construction : 2Q-2023

Completed : 4Q-2026