ACWA Power has signed agreements and memoranda of understanding (MoUs) in Riyadh with several international partners to establish a Green Hydrogen and Renewable Energy Export value chain between Saudi Arabia and Europe. These agreements, part of the Kingdom’s leadership in the India-Middle East-Europe Economic Corridor (IMEC) project, were announced during the Renewable Energy and Green Hydrogen Export Workshop, which gathered government representatives from Saudi Arabia, Greece, France, and Germany, along with major industry executives.
The multi-party MoU with European companies such as Edison S.p.A. (Italy), TotalEnergies Renewables SAS (France), Zhero Europe B.V. (Italy), and EnBW (Germany) aims to develop renewable energy projects for export and create an electricity corridor to Europe. Individual MoUs were also signed with key technical and transmission partners including CESI (Italy), Prysmian (Italy), GE Vernova, Siemens Energy (Germany), and Hitachi (France) to advance cross-border energy infrastructure.
Additionally, a Joint Development Agreement with EnBW was signed to collaborate on the first phase of the Yanbu Green Hydrogen Hub, planned for commercial operations by 2030. The facility will integrate renewable electricity generation, desalination, hydrogen electrolysis, ammonia production, and export terminal infrastructure. This initiative leverages Saudi Arabia’s competitive renewable energy potential and underscores its strategic role in enhancing global energy security and sustainable development aligned with Vision 2030.
This summary highlights Saudi Arabia’s expanding role in forging international partnerships to drive the green hydrogen economy and strengthen energy cooperation between East and West through IMEC.
