ACWA Power Signs Major Deals to Export Renewable Energy and Green Hydrogen

Riyadh | BETH
In the presence of His Royal Highness Prince Abdulaziz bin Salman, Minister of Energy, Riyadh hosted the signing of several agreements and MoUs between ACWA Power and international partners to establish a comprehensive system for exporting renewable energy and green hydrogen from Saudi Arabia to Europe. The signings took place during an international workshop organized by ACWA Power under the supervision of the Ministry of Energy.

Strategic Shift... Along the India–Middle East–Europe Corridor

This initiative aligns with Saudi Arabia’s leadership role in strengthening global logistics connectivity and spearheading the IMEC Economic Corridor, leveraging its strategic location at the crossroads of East and West.

Key Agreements Signed:

Multilateral MoU with major European energy companies:

Edison (Italy)

TotalEnergies (France)

Zero Emissions Europe (Netherlands)

EnBW (Germany)

Technical collaboration on HVDC electricity interconnection with global leaders:

Prysmian

GE Vernova

Siemens Energy

Hitachi

CESI (Italy) as an independent technical advisor.

“Yanbu Green Hydrogen Hub” to Launch in 2030

A joint development agreement was also signed with EnBW to establish the first phase of the Yanbu Green Hydrogen Center, which will integrate renewable power generation, water desalination, electrolysis, green ammonia conversion, and a dedicated export terminal.

BETH Insight

These agreements signal that Saudi Arabia is no longer just an oil exporter—it is becoming a global hub for clean, smart energy. With the Yanbu project on track for 2030, the Kingdom is asserting its role as a trusted energy provider and a strategic pillar in the emerging economic corridor, in line with Vision 2030 goals.