Saudi Arabia’s Public Investment Fund (PIF) backed gigaproject NEOM has launched its subsidiary company ENOWA, which will lead the development of NEOM’s sustainable energy and water systems. The gigaproject aims to ensure that all residents and industries within NEOM are powered by affordable 100% renewable energy.
ENOWA will represent NEOM as the principal shareholder in the world’s largest green hydrogen production plant in an equal joint venture with Air Products and ACWA Power, NEOM stated.
It added that the green hydrogen plant is expected to be the first of several similar plants to make NEOM a hub for green hydrogen production and innovation, and will come on-stream in 2025. The green hydrogen will be exported and used in NEOM for a variety of solutions, including fuelling clean, autonomous electric vehicles.
Earlier this week, Bloomberg had reported that Saudi Arabia will begin the construction of a green hydrogen plant as soon as this month, as it plans to export the fuel in four years. The kingdom is on track to sell carbon-free hydrogen from a $5 billion project in NEOM by 2026, Peter Terium, CEO of ENOWA, said to Bloomberg. “Engineers have finished flattening the site in north-western Saudi Arabia and U.S.-based Air Products & Chemicals Inc. will soon begin building the facility,” he added.
HE Eng Abdulrahman AlFadley, Minister of Environment, Water and Agriculture and chairman of ENOWA, said: “NEOM is committed to sustainability and the creation of a circular economy. This lies at the heart of the project, and it is vital to the nation too. It is central to Vision 2030 and the nation’s goal for net-zero emissions by 2060. The creation of ENOWA is a significant development for NEOM and the nation, and it will be the blueprint for developments elsewhere for years to come.”
Commenting on the launch of the new subsidiary, Terium said that they will work in partnership with the environment to create a sustainable cycle.
“Our vision is being brought to life by some of the best minds in the world, leaders in their respective fields, supported by the latest technology and innovation. We cannot and will not be able to do it alone.”
“The challenges the world faces need global collaboration and we look forward to working with leaders around the world in the energy, hydrogen and water industries to drive innovation forward together,” he added.
ENOWA’s sustainable waste-water collection
Additionally, NEOM’s water and wastewater systems are designed to be completely sustainable, and will be able to deliver low-cost water to residents and businesses within the gigaproject. Powered by renewable energy, NEOM stated that its advanced desalination plants will not put anything back into the sea. Meanwhile, it will deliver drinkable, mineralised water to NEOM’s occupants.
A significant element of the desalination process is planned to be the production of valuable materials from seawater, NEOM stated. The desalination process’ output is brine, which is usually considered as waste, but ENOWA will produce significant quantities of industrial materials such as industrial-grade salt, magnesium, and potassium, which can be sold commercially and effectively, from brine.
Nadhmi Al-Nasr, CEO of NEOM, stated: “We welcome new investors and partners to collaborate with us through ENOWA and to help create a circular economy at scale powered by 100% renewable energy and with abundant water for residential and commercial needs.”
“ENOWA’s innovative approach will create the blueprint for new, sustainable industries in Saudi Arabia whilst creating a vibrant economic sector. As a trendsetter, ENOWA will become the benchmark for integrated sustainable energy, water and hydrogen systems and extend its approach to other industries to grow the sustainability marketplace both in the region and abroad,” he concluded.
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