For centuries synonymous with oil wealth, Saudi Arabia is now leading the global energy transition.
At the heart of the futuristic NEOM megalopolis, specifically in the floating industrial city of Oxagon, one of the world’s most ambitious green facilities is rising — a green hydrogen plant spanning over 300 square kilometers, roughly the size of Chicago. Spearheaded by Saudi Crown Prince Mohammed bin Salman (MBS), the project is a cornerstone of his Vision 2030 strategy aimed at diversifying the kingdom’s economy beyond oil.
The construction is led by the Neom Green Hydrogen Company (NGHC), a joint venture between Saudi firm ACWA Power, U.S. giant Air Products, and NEOM itself. Their mission is bold yet clear: to produce up to 600 tons of green hydrogen per day using 100% renewable energy. This hydrogen will then be converted into 1.2 million tons of green ammonia annually for global export as a clean alternative to fossil fuels.
Unlike prototype initiatives, this is not an experiment — it is a fully scaled commercial project backed by 30-year offtake agreements with Air Products. The energy infrastructure includes 4 GW of solar and wind power, while a 2.2 GW electrolyzer capacity will split water into hydrogen and oxygen with zero carbon emissions.
A dedicated port terminal will enable direct loading of green ammonia onto ships, ensuring fast and efficient global distribution. The project has already secured $8.4 billion in funding, including $6.1 billion in non-recourse loans from 23 international financial institutions.
Aware that technology is futile without human capital, MBS is investing in knowledge — forming partnerships with Saudi universities, offering training for engineers, and recruiting global experts in green energy and hydrogen logistics.
The facility is located within Oxagon, the world’s largest floating industrial complex. Shaped like an octagon and strategically placed along the Red Sea — one of the busiest trade routes in the world — Oxagon is envisioned as a net-zero port city, with smart logistics hubs, research centers, and factories powered entirely by renewable energy. It embodies a future where industry, sustainability, and quality of life coexist in harmony.
While some may scoff at the audacity of floating cities, luxury marinas, and desert ski resorts, green hydrogen is shaping up to be the most grounded — and potent — symbol of Saudi Arabia’s future. If successful, MBS won’t be remembered only as a steward of the oil empire, but as a global leader in clean energy transformation.
