Riyadh - Sharikat Mubasher: ACWA Power, the leading developer, investor, and operator of major power projects, signed agreements and memoranda of understanding (MoUs) with several international partners to create a green hydrogen and renewable energy export value chain between Saudi Arabia and Europe.
The deals were signed during the Renewable Energy and Green Hydrogen Export Workshop, in the presence of Minister of Energy Abdulaziz Al Saud, according to a statement released by the ministry today.
The company signed a multi-party MoU with leading European companies, including Italy’s Edison, France’s TotalEnergies Renewables, the Netherlands’ Zhero Europe, and Germany’s Energie Baden-Württemberg (EnBW), to establish a collaborative framework to assess the market demand and feasibility of developing large-scale renewable energy projects dedicated for export in Saudi Arabia, in addition to creating a corridor to deliver generated electricity to Europe.
ACWA Power also inked individual MoUs to deepen the relationship with key players involved in the development of electricity corridors, including the independent technical consultant CESI, and leading HVDC technology and cable providers, including Prysmian, GE Vernova, Siemens Energy, and Hitachi.
Under these MoUs, all parties will join efforts to develop advanced energy transmission corridors that enhance supply reliability and the efficiency of cross-border energy infrastructure.
Additionally, a joint development agreement was signed with EnBW for collaboration on the first phase of the Yanbu Green Hydrogen Hub.
Yanbu Green Hydrogen Hub, scheduled to be ready for commercial operations by 2030, is a fully integrated facility with its captive electricity generation from renewable sources, desalination plants to feed its hydrogen electrolysis and ammonia conversion facilities, with a dedicated export terminal.
The signing of these agreements and MoUs reinforces Saudi Arabia’s leading role in enhancing global logistics connectivity and its leadership in the India-Middle East-Europe Economic Corridor (IMEC) project.
The Renewable Energy and Green Hydrogen Export Workshop, led by ACWA Power, brought together high-level government representatives from Saudi Arabia, Greece, France, and Germany, alongside executives from global specialized companies and leading national institutions. It showcased the Kingdom’s progress in diversifying its energy mix and promoting regional and international integration in clean energy.
