Energy & Science
Saudi Arabia’s Bold Plan to Rule the $700 Billion Hydrogen Market
The kingdom is building a $5 billion plant to make green fuel for export and lessen the country’s dependence on petrodollars.
Source: Neom
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Sun-scorched expanses and steady Red Sea breezes make the northwest tip of Saudi Arabia prime real estate for what the kingdom hopes will become a global hub for green hydrogen.
As governments and industries seek less-polluting alternatives to hydrocarbons, the world’s biggest crude exporter doesn’t want to cede the burgeoning hydrogen business to China, Europe or Australia and lose a potentially massive source of income. So it’s building a $5 billion plant powered entirely by sun and wind that will be among the world’s biggest green hydrogen makers when it opens in the planned megacity of Neom in 2025.