Saudi Arabia is set to invest at least $10 billion into low-carbon hydrogen production through a newly established subsidiary named Energy Solutions. This initiative is a key part of the Kingdom's strategy to diversify its economy and reduce reliance on oil while reinforcing its position as a global energy powerhouse.

Energy Solutions will focus on financing green hydrogen projects, aligning with the objectives of the Public Investment Fund (PIF). The subsidiary is expected to be led by Cord Landsmann, who previously served as CEO of Thyssenkrupp Uhde, indicating a strong emphasis on technological expertise in hydrogen production.

This investment is expected to complement ongoing projects, including the ambitious NEOM green hydrogen project, developed in partnership with ACWA Power. The move reflects Saudi Arabia's commitment to advancing its sustainable energy initiatives and contributing to the global transition towards lower-carbon solutions.