Top 10 Green Hydrogen Projects: $5 B NEOM with Air Products & 1.2 M Tonne Offtake (2025-2026)

The global green hydrogen market is undergoing a decisive shift from ambition to execution, a trend defined by the “Race to Bankability.” The viability of multi-billion-dollar export projects is no longer measured by planned gigawatt capacity but by the success in securing binding offtake agreements, which are essential to reaching a Final Investment Decision (FID). Analysis of commercial activity from 2025 to April 2026 shows that while hundreds of projects have been announced, only those with secured buyers, like Saudi Arabia’s NEOM facility with its 30-year agreement with Air Products, are moving into construction. The dominant market theme is the critical role of offtake in unlocking capital, with green ammonia emerging as the primary export vector, accounting for 43% of the 3.6 million tonnes of binding offtake secured globally.

1. NEOM Green Hydrogen Project (HELIOS)

Consortium/Key Players: NEOM Green Hydrogen Company (NGHC), an equal joint venture between ACWA Power, Air Products (USA), and NEOM.
Capacity & Production: The $5 billion project will use over 4 GW of renewable energy to produce 650 tonnes of green hydrogen per day, which will be synthesized into 1.2 million tonnes per year of green ammonia.
Export Details: All green ammonia will be exported to global markets, with Air Products serving as the exclusive offtaker.
Source: [PDF] FOCUS ON HYDROGEN: STATE OF THE MARKET 2025 MARCH …

2. Good Earth Green Ammonia Project

Consortium/Key Players: Hiringa Energy, Sundown Pastoral Company, and the New South Wales (NSW) Government.
Capacity & Production: The facility is designed to produce 4, 500 tonnes of renewable ammonia annually.
Export Details: While initially for domestic agriculture, the project’s model is scalable for Australia’s green ammonia export goals for Asia. An FID was reached in 2025 based on secured domestic offtake.
Source: Inter Continental Energy: forging ahead with mega-scale green …

3. Globeleq SCZONE Hydrogen Project (Phase 2)

Consortium/Key Players: Globeleq
Capacity & Production: This large-scale project targets an annual production capacity of 1, 945, 000 tonnes of green hydrogen.
Export Details: Strategically located in Egypt’s Suez Canal Economic Zone (SCZONE) for export of green hydrogen derivatives to Europe and Asia. The project is in the feasibility stage as of April 2025.
Source: Top 10 Upcoming Hydrogen Projects in Africa – Prospect

4. Total Energies H 2 Magallanes Project

Consortium/Key Players: Total Energies
Capacity & Production: Plans for 10 GW of wind to power an 8 GW electrolyzer park, producing 800, 000 tonnes of green hydrogen annually, converted into over 4 million tonnes of green ammonia.
Export Details: The entire ammonia output is intended for export, with offtake negotiations ongoing as of May 2025.
Source: Total Energies drives LATAM’s largest green hydrogen project

5. Unnamed Mauritania Mega-Projects

Consortium/Key Players: Various international developers.
Capacity & Production: Three separate projects with a combined 7 GW of renewable capacity for large-scale green hydrogen and ammonia production.
Export Details: The projects, with a combined investment expected to exceed $40 billion, are entirely export-oriented to supply the European market. They are in pre-FID stages as of June 2025.
Source: Mapping the cost competitiveness of African green hydrogen imports …

6. SCZONE 2 GW Green Hydrogen Initiative

Consortium/Key Players: A consortium of Egyptian state-supported entities and international partners.
Capacity & Production: The initiative targets the development of a 2 GW electrolyzer capacity within the SCZONE.
Export Details: This high-priority national program, which advanced in March 2026, is designed for green ammonia export to the European Union.
Source: Electrolyzers Market Size, Share And Trends Report, 2034

7. HEVO-Morocco Project

Consortium/Key Players: Part of Morocco’s national hydrogen strategy with international partners.
Capacity & Production: Planned electrolyzer capacity of 689.2 MW, for an expected annual production of 103, 300 tonnes of green hydrogen.
Export Details: As part of a wider $35 billion national investment, the project is focused on exporting green hydrogen and ammonia to the European market.
Source: [PDF] African Green Hydrogen Report | Pt X Hub

8. Unnamed Oman Green Ammonia Project

Consortium/Key Players: OQ Alternative Energy is a key state-backed entity involved in similar projects.
Capacity & Production: Sized to deliver 100, 000 tonnes of green hydrogen-derived ammonia per year.
Export Details: A binding offtake agreement was signed with a major fertilizer company in late 2025 for the full capacity, significantly de-risking the project for FID.
Source: [PDF] [PDF] IEEFA report_Oman at the frontline of the green steel …

9. Kawasaki Canada-Japan Liquid Hydrogen Supply Chain

Consortium/Key Players: Kawasaki Heavy Industries (KHI) and Canadian energy producers.
Capacity & Production: An end-to-end supply chain rather than a single plant, aiming to transport liquefied hydrogen (LH 2) from Canada to Japan.
Export Details: Pioneering the technically challenging sea transport of LH 2 at cryogenic temperatures (-253°C). KHI awarded contracts for key terminal components in 2026.
Source: Unmanned hydrogen fuel cell-powered submarine … – gasworld

10. Egypt-Fertiglobe Suez Green Hydrogen Project

Consortium/Key Players: Egypt Green Hydrogen Alliance, Fertiglobe (OCI and ADNOC partnership), and Scatec.
Capacity & Production: The initial phase involves a 100 MW electrolyzer, making it one of Africa’s first operational green hydrogen projects.
Export Details: Began exporting green hydrogen-derived products to Europe in early 2026, with Fertiglobe serving as its own offtaker to decarbonize existing ammonia production.
Source: Arab states take a chunk of the global green hydrogen market

Table: Top 10 Green Hydrogen Export Projects (2025-2026)

Green Hydrogen Bankability, Securing Offtake for FID

The primary hurdle for large-scale green hydrogen projects has shifted from technological readiness to commercial bankability. The data clearly shows that a binding offtake agreement is the single most important catalyst for moving a project from announcement to construction. The $5 billion NEOM project is the global benchmark, having reached financial close on the back of a 30-year exclusive offtake deal with industrial gas major Air Products. On a smaller scale, Australia’s Good Earth project reached a Final Investment Decision (FID) in 2025 only after securing buyers for its output. In contrast, massive projects like Total Energies’ 10 GW plan in Chile and the $40 billion ambitions in Mauritania remain in advanced development, pending the finalization of such crucial commercial agreements. This trend underscores a market bifurcation: projects with secured buyers are advancing, while those without are stalled.

Africa and Middle East, Leading Green Hydrogen Export Hubs

A distinct geographical pattern is emerging, with the Middle East and North Africa (MENA) positioning themselves as the world’s premier green hydrogen export hubs. Countries in these regions are leveraging world-class solar and wind resources combined with strategic coastal locations and strong government support. Saudi Arabia, with its globally leading NEOM project, is setting the pace for integrated, at-scale development. Egypt is aggressively developing its Suez Canal Economic Zone (SCZONE) as a production and export center, with multiple gigawatt-scale projects announced, including initiatives from Globeleq and a national 2 GW program. The country launched its National Clean Hydrogen Program in April 2026 to streamline investment. Similarly, Morocco and Oman are leveraging their renewable potential and proximity to key markets in Europe and Asia, with both nations advancing projects backed by national strategies and, in Oman’s case, a secured offtake for a 100, 000-tonne ammonia plant.

Map Shows MENA as Green Hydrogen Export Hub

This map directly visualizes the section’s theme by identifying Saudi Arabia as a key production and export hub and Europe as a major importer.

(Source: Czapp)

1.2 M Tonnes Per Year, Ammonia as the Leading Export Vector

These projects confirm that while green hydrogen is the target molecule, green ammonia (NH 3) is the most mature and bankable vector for international trade. The vast majority of large-scale export projects, including NEOM, Total Energies in Chile, and the Egyptian initiatives, plan to convert their hydrogen into ammonia. This is driven by ammonia’s higher energy density and the existence of a mature global infrastructure for its storage and transport. The operational Egypt-Fertiglobe project, which began exports in early 2026, uses its 100 MW electrolyzer to produce green ammonia, demonstrating the commercial pathway. A notable alternative is the Kawasaki Canada-Japan supply chain, which is pioneering the more complex transport of liquefied hydrogen (LH 2). The success of this route will be a critical indicator for the future of non-ammonia-based hydrogen trade, but for now, ammonia remains the undisputed leader for de-risking export-oriented projects.

NEOM Project $5 B Green Hydrogen Leadership (2026-2027)

The most critical strategic expectation for the year ahead is a market consolidation, where a few dozen mega-projects with bankable offtake agreements and strong government backing will accelerate toward construction, while a long tail of announced projects will be indefinitely postponed. The focus will pivot from project announcements to solving midstream infrastructure bottlenecks.

• If European demand-side policies, such as the Hydrogen Bank auctions, provide clear price support signals by early 2026, watch for a wave of binding offtake agreements to be signed for projects in North Africa. This could trigger FIDs for several gigawatts of planned electrolyzer capacity in Morocco and Mauritania.
• The launch of Egypt’s National Clean Hydrogen Program in April 2026 is a signal of intense policy support aimed at closing the execution gap. Watch for the SCZONE 2 GW initiative to announce a lead developer and offtake partners by the end of the year.
• The successful signing of a binding offtake agreement for the 100, 000-tonne Oman project in late 2025 serves as the new template for bankability. Watch for other projects in the region to replicate this model, focusing on smaller, more financeable phases tied to specific industrial offtakers.

The questions your competitors are already asking

This report covers one angle of the commercial bankability of large-scale green hydrogen export projects. The questions that matter most depend on your work.

• Which developers are gaining ground in the race for bankable green hydrogen export projects by securing offtake?
• What is the outlook for large-scale green hydrogen projects reaching a Final Investment Decision (FID) by 2026?
• Which utilities and industrial buyers are signing the most binding offtake agreements for green ammonia?
• Brazil’s EUR 2B German-backed green hydrogen plant. Is the project on track to secure binding offtake and reach FID?

This report does not answer these. Enki Brief Pro does.

Your question, your angle, your framework. SWOT, PESTL, scenario modelling. The same niche depth, built around the decision your work actually depends on.

Run your first brief in Enki Brief Pro