ACWA Power, based in Saudi Arabia, has secured agreements and memoranda of understanding (MoUs) with several international partners to establish a green hydrogen and renewable energy export chain between Saudi Arabia and Europe. These initiatives support Saudi Arabia’s strategy to improve global logistics connectivity through the India-Middle East-Europe Economic Corridor (IMEC), leveraging its strategic geographic position.
The partnerships were formalized during a Renewable Energy and Green Hydrogen Export Workshop in late July 2025, overseen by the Saudi Ministry of Energy. ACWA Power collaborated with European companies including Edison, TotalEnergies Renewables, Zhero Europe, and Energie Baden-Württemberg (EnBW) to assess the market demand for large-scale renewable energy projects aimed at exporting electricity to Europe.
Additionally, the workshop led to individual MoUs with Centro Elettrotecnico Sperimentale Italiano (CESI) and various high-voltage direct current technology providers such as Prysmian, GE Vernova, Siemens Energy, and Hitachi. These agreements are designed to create advanced energy transmission corridors, enhancing supply reliability and optimizing cross-border energy infrastructure.
A joint development agreement was also signed with EnBW for the first phase of the Yanbu green hydrogen hub, scheduled for commercial operations by 2030. This facility will operate entirely on renewable energy sources and include desalination plants to support hydrogen electrolysis and ammonia conversion processes, as well as a dedicated export terminal.
These projects align with Saudi Vision 2030, promoting global energy security and facilitating the transition to sustainable energy. In mid-July 2025, Saudi Arabia’s Principal Buyer, a state-owned power procurement agency, signed agreements worth SR31 billion (approximately $8.3 billion) with a consortium led by ACWA Power. These agreements focus on the development of seven new solar and wind power projects with a total capacity of 15 gigawatts (GW).
Through these initiatives, ACWA Power aims to position Saudi Arabia as a leading exporter of green hydrogen and renewable energy, meeting growing energy demands in Europe while contributing to global sustainability goals.
