By: Utilities middle east

In a move to bolster global energy connectivity, ACWA Power has signed agreements and memoranda of understanding (MoUs) with international partners to create a Green Hydrogen and Renewable Energy Export value chain between Saudi Arabia and Europe. The agreements were signed in Riyadh during a workshop led by ACWA Power and attended by Prince Abdulaziz bin Salman bin Abdulaziz Al Saud, Minister of Energy.

The workshop, which gathered government officials from Saudi Arabia, Greece, France, and Germany, along with executives from global companies, highlighted Saudi Arabia’s role in diversifying its energy mix and reinforcing its status as a reliable global energy supplier. The event was part of the Kingdom’s involvement in the India-Middle East-Europe Economic Corridor (IMEC) project.

A key multi-party Memorandum of Understanding was signed with European companies such as Edison S.p.A., TotalEnergies Renewables SAS, Zhero Europe B.V., and EnBW. This MoU aims to evaluate the feasibility of large-scale renewable energy projects in Saudi Arabia to export electricity to Europe.

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Additionally, ACWA Power signed individual MoUs with technical and technology partners such as CESI, Prysmian, GE Vernova, Siemens Energy, and Hitachi. These agreements aim to enhance the reliability and efficiency of cross-border energy infrastructure.

A Joint Development Agreement with EnBW outlines collaboration on the Yanbu Green Hydrogen Hub, expected to start operations by 2030. This facility will feature integrated renewable electricity generation, desalination plants, and an export terminal to meet global clean energy demands.

These agreements underscore Saudi Arabia’s strategic role in the IMEC project, leveraging its geographical location and competitive advantages in renewable energy. They also align with Saudi Vision 2030’s goals to enhance global energy security and transition towards sustainable energy solutions.