May 26 (Renewables Now) - US industrial gases supplier Air Products (NYSE:ADP), Oman’s state-owned integrated energy group OQ and Saudi Arabia’s ACWA Power (TADAWUL:2082) have inked a joint development agreement for a multi-billion-dollar green hydrogen-based ammonia project in Oman.
The deal announced today follows the signing of a memorandum of understanding (MoU) in December 2021. It concerns a project that will be realised in Oman's Salalah Free Zone.
The plan calls for the integration of solar, wind and energy storage resources, and the production of hydrogen, nitrogen and green ammonia. It will utilise electrolysis and air separation technologies.
Air Products chairman, president and CEO, Seifi Ghasemi, pointed out that the project in Oman will be similar to the one being implemented by the US company and ACWA Power in Neom, Saudi Arabia.
The facility in Oman is anticipated to be equally owned by the project partners.
"Oman continues to be a key market for ACWA Power for its potential, resources and location, making it a tremendous enabler for the production of green hydrogen,” commented Mohammad A. Abunayyan, chairman of ACWA Power.