The power transmission & distribution arm of Indian engineering major L&T has achieved important milestones for the power elements and grid packages of the world’s largest green hydrogen plant being built by NEOM Green Hydrogen Company.
Supported by 23 local, regional, and international banking and financial institutions, the project has now achieved full financial close, and construction is progressing fast L&T said in the statement.
The value of the packages awarded to L&T aggregate to $2.779 billion, the Indian major said while adding, “Since then, significant progress has been achieved in various activities including surveys, design & engineering, establishment of temporary facilities and procurement of long lead items.”
Located at Oxagon in Saudi Arabia, NEOM Green Hydrogen Co (NGHC) is an equal joint-venture by ACWA Power, Air Products and NEOM, L&T wrote in a statement.
NGHC is setting up a mega plant to produce green hydrogen at-scale for global export in the form of green ammonia with a total investment of $8.4 billion, the statement noted.
A few quarters back, L&T received the nod to establish the renewable energy generation, storage and grid infrastructure, from Air Products, the system-integrating EPC Contractor and exclusive off-taker of green ammonia to be produced from the project.
