Jeffrey Beyer joined Asharq Business to discuss the Public Investment Fund's recent launch of the Energy Solutions Company (ESC), a $10 billion investment in clean hydrogen.
ESC represents the country's largest investment in hydrogen to-date, even surpassing NEOM's enormous $8.4 billion investment in the Green Hydrogen Company.
Saudi Arabia has the right renewable energy resources, geology, domestic use-cases, proximity to export markets, industrial heritage and credit rating to be an early mover in this space. Clean hydrogen is a necessary part of any Net Zero scenario, and Saudi Arabia is seizing the opportunity to diversify the economy and capture long-term value and market share.
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