Saudi Arabia signs agreements to export green hydrogen and electricity to Europe

ACWA Power has signed several agreements with European partners to develop a green energy export chain between Saudi Arabia and Europe, as part of the India-Middle East-Europe Economic Corridor project.

Share:

Subscribe for unlimited access to all energy sector news.

Over 150 multisector articles and analyses every week.

Your 1st year at 99 €*

then 199 €/year

*renews at 199€/year, cancel anytime before renewal.

Saudi company ACWA Power has signed a series of agreements and memoranda of understanding with several European companies to establish a green hydrogen and renewable electricity export chain to Europe. These commitments were formalised in the presence of the Minister of Energy, Prince Abdulaziz bin Salman bin Abdulaziz Al Saud, during a workshop on renewable energy exports held in Riyadh.

Structuring partnerships for an energy corridor

Signatories include Edison S.p.A (Italy), TotalEnergies Renewables SAS (France), Zhero Europe B.V. (Italy) and Energie Baden-Württemberg AG (Germany), which signed a multi-party memorandum of understanding with ACWA Power. The agreement provides for a joint feasibility study on large-scale renewable energy projects in Saudi Arabia dedicated to export, as well as the establishment of an electricity transmission corridor to Europe.

In parallel, bilateral agreements were concluded with several European technology suppliers. These partnerships include CESI (Italy), specialised in energy engineering, Prysmian (Italy), GE Vernova, Siemens Energy (Germany), and Hitachi (France), all involved in high-voltage direct current (HVDC) transmission solutions. These collaborations aim to design more efficient cross-border energy infrastructures.

A production hub in Yanbu by 2030

ACWA Power and EnBW signed a joint development agreement to launch the first phase of the Yanbu Green Hydrogen Hub project. This energy complex, expected to enter into commercial operation by 2030, will integrate its own renewable electricity generation, a desalination unit to supply electrolysers, and facilities to convert hydrogen into ammonia for export.

All these agreements fall within the framework of the India-Middle East-Europe Economic Corridor (IMEC) project, which aims to strengthen regional integration and logistical connectivity. According to the partners, Saudi Arabia’s strategic location is a key advantage in becoming a major player in energy security and intercontinental electricity transit.

The Saudi Ministry of Energy stated that these commitments reflect the Kingdom’s ambition to fully leverage its low-cost renewable production potential to meet global industrial demand.

US-based manufacturer Ohmium unveils a new generation of modular electrolysers integrating all production systems within a reduced footprint, aiming to lower installation and operating costs for green hydrogen.
ABO Energy and Hydropulse join forces to develop decentralised green hydrogen production units in Europe, with Spain and Finland as priority markets.
Next Hydrogen secures two separate loans, including one from its executives, to consolidate liquidity and continue operations while evaluating long-term financial solutions.
The European Union’s regulatory framework mandates green hydrogen integration in refineries, generating projected demand of 0.5 million tonnes by 2030.
Air Products transported over 50 tanker trucks to the Kennedy Space Center to fill the world’s largest liquid hydrogen tank, supporting NASA’s Artemis missions.
Driven by federal incentives, hydrogen hubs and industrial demand, the U.S. green hydrogen market shows a compound annual growth rate of 63.8% through 2032.
According to the Oxford Institute for Energy Studies, the adoption of low-carbon ammonia in maritime transport faces economic, regulatory, and safety barriers, despite growing international pressure to reduce emissions from the global fleet.
Despite declining revenues, Next Hydrogen maintains operational continuity in Q2 2025 through new private and institutional financing.
Transition Industries assigns Bonatti to build core infrastructure for Pacifico Mexinol, a strategic methanol complex in Mexico poised to become a major global player.
GeoPura has acquired key assets from Green Hydrogen Systems and opened a subsidiary in Denmark to support its expansion in hydrogen electrolyser production and maintenance.
BP and Fortescue withdrawals reveal gap between promises and economic reality in the sector, despite 22.7 billion Australian dollars in government incentives.
Endua, an Australian technology company, has received $4.88mn in public funding to strengthen its capacity to produce modular hydrogen electrolysers, supporting the expansion of local supply chains and industrial development within the hydrogen sector.
HydrogenXT secures a $900mn agreement with Kell Kapital Partners Limited to develop the first ten local zero-carbon blue hydrogen plants along key logistics corridors in the United States.
Elogen completes delivery of a 2.5 MW proton exchange membrane electrolyser for the Baseload Power Hub, linked to the Hollandse Kust Noord offshore wind farm and operated by CrossWind joint venture.
Fotowatio Renewable Ventures joins forces with Envision Energy for the H2 Cumbuco project, aiming for a 500MW green ammonia plant targeting Brazilian, European, and Asian markets.
Element 2 strengthens its partnership with HRS to install a mobile hydrogen station in Glasgow, as part of its expansion strategy for its refuelling network in the United Kingdom and Ireland.
Global hydrogen development, supported by more than 1,500 ongoing projects and significant investments, is driving strong demand for insurance coverage, with potential estimated at over USD3bn in annual premiums by 2030.
ArcelorMittal Brazil begins a collaboration with Utility Global to develop a clean hydrogen project using the patented H2Gen system, aimed at producing up to 3 tons per day at the Juiz de Fora plant.
ENERTRAG announces the acquisition of a plot in Prenzlau to install a 130 megawatt green hydrogen production unit, with a planned investment of €300 mn, thereby supporting the regional economy and local industrial sector.
H2APEX Group SCA has completed a EUR30mn ($32.5mn) capital increase to finance the acquisition of HH2E Werk Lubmin GmbH and support the development of its hydrogen project in Germany. —

Log in to read this article

You'll also have access to a selection of our best content.

or

Go unlimited with our annual offer: €99 for the 1styear year, then € 199/year.