India-headquartered construction and engineering multinational Larsen & Toubro (L&T) said that its power transmission and distribution business has achieved major milestones for the power elements and grid packages of the world’s largest green hydrogen project in NEOM, Saudi Arabia.
Significant progress has been achieved in various activities, including surveys, design and engineering, establishing temporary facilities and procuring long lead items at the green hydrogen plant at Oxagon in NEOM gigacity, L&T said in a statement published on Thursday on India’s Bombay Stock Exchange.
In December 2022, L&T secured a major engineering, procurement, and construction (EPC) contract worth $2.779 billion from NEOM to work on the world’s largest green hydrogen project.
NEOM Green Hydrogen Company (NGHC) is an equal joint venture by ACWA Power, Air Products and NEOM.
NGHC is setting up a mega plant to produce green hydrogen at scale for global export in the form of green ammonia with a total investment of $8.4 billion. Supported by 23 local, regional, and international banking and financial institutions, the project has now achieved full financial close and construction is moving forward.
Under the contracts, L&T will engineer, procure, and construct a 2.2 GWac PV solar plant, 1.65 GW wind generation balance of plant and a 400 MWh battery energy storage system under the power elements package. It will also construct three 380 kV switching stations, 306 KM of 380 kV overhead lines and UG cables required for the Kingdom’s grid network.
The scope also includes the energy power monitoring system (EPMS) for the complete network, the statement said.
(Writing by D Madhura; Editing by Anoop Menon)