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Saudi Arabia’s NEOM project to launch solar and wind component factories in 2025, green hydrogen plant by 2026

Saudi Arabia's Oxagon is set to open three renewable energy component factories in early 2025.

Saudi Arabia’s NEOM project to launch solar and wind component factories in 2025, green hydrogen plant by 2026

Oxagon, the private industrial city under Saudi Arabia’s NEOM project, is expected to launch three solar panel and wind turbine component factories in the first quarter of 2025. According to Oxagon CEO Vishal Wancho, who spoke at the Future Investment Initiative in Riyadh, discussions have advanced with two companies specializing in the production of solar alloys and chips for solar cells, as well as a company producing wind turbines and their technical components.

Wancho also announced that NEOM's green hydrogen plant, developed in partnership with ACWA Power and Air Products, is scheduled to begin production by the end of 2026. Additionally, he revealed plans to establish a university in collaboration with NEOM's education sector focused on energy transition research and innovation, alongside a training academy aimed at developing talent for industrial facilities in the city.

In 2021, Saudi Crown Prince Mohammed bin Salman announced the creation of the NEOM Industrial Park "Oxagon," designed to be the world’s largest floating industrial cluster and offer a new model for future manufacturing centers. Oxagon focuses on seven key sectors: sustainable energy, autonomous mobility, water solutions, sustainable food production, health and well-being, digital manufacturing technologies, and modern construction methods.

Wancho stated, "Our goal is to create clean industries in seven sectors based on a circular economy and strategically attract industries that complement each other." He added, "We are focusing on renewable energy systems, particularly green hydrogen production, and plan to build sustainable future industries using modern construction methods

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