ACWA Power/NEOM/Air Products - Helios Green Fuels Project: Electrolysis Plant

General Information
Owner NEOM
Masterplan Project (Parent Profile) ACWA Power/NEOM/Air Products – Helios Green Fuels Project: Green Ammonia Plant Complex – Saudi Arabia
Location Tabuk Province, Saudi Arabia
Status --
Sector Chemical, Production, Hydrogen Plant
Contract Type Engineering Procurement Construction (EPC)
Onshore/Offshore Onshore
Greenfield/Brownfield Greenfield
Progress 2
Estimated Budget Value ---
Contract Value 400
Net Value $400m
Award Date December 2021
Completion Date December 2025
Last Updated On December 2021
ProjectId (Old, New) 335824, 335824


A consortium of ACWA Power, NEOM, and Air Products is planning to undertake the development of the 2GW electrolysis plant project at Helios Green Fuels Project in NEOM, Saudi Arabia.

The US$500 million project includes the following:

1. Construction of a 2GW electrolysis plant

2. Construction of storage units

3. Installation of process heater systems

4. Infrastructure works

5. Construction of associated facilities

Second Section

16 December 2021

ThyssenKrupp has been appointed as an EPC contractor on the project.

08 February 2021

Market sources indicate that the project is facing delays due to the ongoing circumstances in the country.

02 December 2020

Air Products, ACWA Power and NEOM has signed an agreement for the development of the project. The project is expected to come on stream by 2025.