Acwa Power JV closes financing on $8.5bn green hydrogen project in Neom ...United Arab Emirates

Acwa Power’s joint venture (JV) entity has closed a financing agreement worth US $8.5bn for a major green hydrogen project, which will take shape in Saudi Arabia’s Neom city, the firm has announced. In addition to Acwa, Neom Green Hydrogen Company (NGHC) has US-based Air Products and Neom as its JV partners, the statement explained. The finance for the project will come from a combination of long-term debt and equity, stated Acwa Power in its filing to Saudi bourse Tadawul. The total financing consists of $5.85bn in senior debt and $475mn of mezzanine debt facilities, both arranged on a non-recourse project finance basis. It includes: $1.5bn from the National Development Fund (NDF) on behalf

Hence then, the article about acwa power jv closes financing on 8 5bn green hydrogen project in neom was published today ( Friday 03/03/2023 - 10:12 AM ) and is available on ME CONSTRUCTION NEWS ( United Arab Emirates ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.

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Last updated : 03 March 2023 clock 10:12 AM

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Acwa Power JV closes financing on $8.5bn green hydrogen project in Neom ...United Arab Emirates

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