PIF is the first SWF to build giga-projects as an investment pool. At sheer scale, they catalyze key-industry growth with synergies for energy, infrastructure and innovation.
NEOM, PIF’s future-oriented “laboratory” for human progress on the Red Sea, will host an entirely renewables-based system, leveraging abundant solar radiation and high wind speeds.
This emphasis on sustainability also extends to NEOM’s water system, with water desalinated with renewables, wastewater kept out of the environment (zero liquid discharge) and brine reclaimed for industrial use.
NEOM is also developing the world’s largest “green” hydrogen (generated by renewables-based electrolysis) project.
Saudi Arabia’s highly competitive renewable electricity production costs mean the NEOM Green Hydrogen Company, a joint venture with PIF-backed ACWA Power and Air Products, will affordably produce an average of 600 tons of green hydrogen daily, converted to 1.2 million tons per annum of green ammonia (addressing storage and transport issues) for global export and de-carbonization.
6 replies on “Giga-Projects: Ecosystems with Renewable Synergies”
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