- ACWA Power signed multiple agreements with European energy giants to develop renewable energy and green hydrogen export corridors to Europe.
- A joint development deal with Germany’s EnBW will launch the Yanbu Green Hydrogen Hub in 2030.
Saudi Arabia has taken significant steps toward becoming Europe’s leading clean energy supplier by signing multiple agreements in Riyadh to develop renewable energy and green hydrogen export corridors.
ACWA Power signed the agreements during a workshop on renewable energy and hydrogen exports, which was held in the presence of Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz Al Saud. The event brought together senior officials from Saudi Arabia, Germany, France, and Greece and executives from top international energy companies.
ACWA Power signed a multi-party memorandum of understanding with key European partners, including Italy’s Edison S.p.A., France’s TotalEnergies Renewables SAS, Italy’s Zhero Europe B.V., and Germany’s EnBW. The agreement aims to assess market demand and study the feasibility of developing large-scale renewable projects for European export.
In addition, ACWA Power finalised individual agreements with technical and infrastructure partners such as Italian engineering firm CESI, cable manufacturer Prysmian, and significant technology suppliers GE Vernova, Siemens Energy, and Hitachi. These deals aim to develop advanced energy transmission corridors that ensure reliable supply and efficient cross-border infrastructure.
A significant highlight is ACWA Power’s joint development agreement with Germany’s EnBW for the Yanbu Green Hydrogen Hub. Scheduled to begin commercial operations by 2030, the project will integrate renewable power generation, desalinated water for electrolysis, ammonia conversion systems, and a dedicated export terminal.
Furthermore, these initiatives build on Saudi Arabia’s strategic location and role in the India-Middle East-Europe Economic Corridor (IMEC). By combining geography with its cost-competitive renewable resources, the kingdom is positioning itself as a critical player in Europe’s clean energy transition.
The new partnerships also align with Saudi Vision 2030 and underscore the country’s commitment to global energy security and the development of sustainable infrastructure linking East and West.