Saudi Arabia’s energy ambitions just took a global leap.
ACWA Power, a leading Saudi developer of green hydrogen and renewable projects, has signed a series of strategic agreements aimed at building a robust export value chain for green hydrogen and renewable energy between Saudi Arabia and Europe.
Supervised by the Ministry of Energy, ACWA Power entered a joint development agreement with German energy company EnBW for Phase 1 of the Yanbu Green Hydrogen Hub, which is expected to begin commercial operations by 2030.
The project will feature:
Renewable-powered electricity generation
Desalination plants for electrolysis
Ammonia conversion facilities
A dedicated export terminal
Beyond that, ACWA Power also signed multi-party MoUs with European energy giants including:
TotalEnergies (France)
Edison (Italy)
Zhero Europe
EnBW (Germany)
These collaborations aim to assess large-scale renewable projects for export and create corridors for transmitting clean electricity directly to Europe.
To strengthen the infrastructure, further MoUs were signed with CESI, Prysmian, GE Vernova, Siemens Energy, and Hitachi to develop cross-border transmission solutions.
Earlier this year, ACWA also joined forces with Germany’s SEFE to establish a hydrogen supply bridge, targeting 200,000 tonnes of green hydrogen exports by 2030. A separate collaboration with Italy’s Snam is exploring similar opportunities.
This bold move reinforces Saudi Arabia’s ambition to become a key global supplier of clean energy, aligning with Europe’s decarbonization goals.
