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By Verity Ratcliffe (Bloomberg) –Sun-scorched expanses and steady Red Sea breezes make the northwest tip of Saudi Arabia prime real estate for what the kingdom hopes will become a global hub for green hydrogen.
As governments and industries seek less-polluting alternatives to hydrocarbons, the world’s biggest crude exporter doesn’t want to cede the burgeoning hydrogen business to China, Europe or Australia and lose a potentially massive source of income. So it’s building a $5 billion plant powered entirely by sun and wind that will be among the world’s biggest green hydrogen makers when it opens in the planned megacity of Neom in 2025.
Saudi Arabia s Bold Plan to Rule the $700 Billion Hydrogen Market
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Saudi Arabia s bold plan to rule the $700 billion hydrogen market
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Saudi Arabia s Bold Plan to Rule the $700 Billion Hydrogen Market
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The United Arab Emiratesâ green digitization vision The COVID-19 pandemic has revealed the need for sustainable digitization of the economy, and the UAE is accepting the challenge. 9490 Total views Expert Take
The United Arab Emirates is the worldâs sixth-largest oil producer and one of the richest countries in the world, with a gross domestic product per capita of above $43,000 as of 2019, according to the World Bank. As per its âVision 2021,â Iis petroleum- and natural-gas-reliant economy is committed to sustainable development in order to emerge as the Gulf Cooperation Councilâs, or GCCâs, most diversified economy. This includes the digitization of the economy, which has become a priority during the COVID-19 pandemic.Â