21 July
2025, In a strategic move
that reaffirms its leadership in global energy transition, Saudi Arabia has
signed several major agreements and Memoranda of Understanding (MoUs) to export
renewable energy and green hydrogen to Europe. The signing ceremony took place
in Riyadh in the presence of His Royal Highness Prince Abdulaziz bin Salman bin
Abdulaziz Al Saud, Minister of Energy. These collaborations position Saudi
Arabia as a central hub in the India-Middle East-Europe Economic Corridor
(IMEC), leveraging its pivotal geographical location connecting East and West.
Organized
by ACWA Power under the supervision of the Ministry of Energy, the Renewable
Energy and Green Hydrogen Export Workshop welcomed senior government officials
from Saudi Arabia, France, Germany, and Greece, alongside top executives from
international energy firms. The event highlighted the Kingdom’s ambitious
energy diversification strategy and showcased its growing role in clean energy
integration on both regional and international fronts.
ACWA
Power signed a multi-party MoU with major European energy players, including
Edison S.p.A. (Italy), TotalEnergies Renewables SAS (France), Zhero Europe B.V.
(Italy), and EnBW (Germany). This collaborative framework aims to evaluate the
demand and feasibility of developing large-scale renewable energy projects in
Saudi Arabia for export to Europe. The initiative will also focus on creating
an efficient corridor to transmit the generated power across borders.
In
addition to the multi-party MoU, ACWA Power also entered individual agreements
with key infrastructure and technology providers such as CESI (Italy), Prysmian
(Italy), GE Vernova, Siemens Energy (Germany), and Hitachi (France). These MoUs
are centered on enhancing cross-border electricity transmission through
advanced HVDC technology and energy corridors that improve reliability,
efficiency, and scalability.
A
landmark Joint Development Agreement was also signed with German energy company
EnBW for the first phase of the Yanbu Green Hydrogen Hub. Scheduled to become
operational by 2030, the hub will feature integrated facilities including
renewable power generation, desalination plants, hydrogen electrolysis, ammonia
conversion, and a dedicated export terminal making it one of the world’s most
comprehensive clean energy projects.
These agreements
underline Saudi Arabia’s commitment to realizing Vision 2030’s energy
transition goals. By deepening partnerships with Europe, the Kingdom not only
accelerates its clean energy ambitions but also bolsters global energy
security, supply chain resilience, and infrastructure interconnectivity. Through
strategic foresight and cross-border collaboration, Saudi Arabia is
well-positioned to become a global leader in exporting green energy setting the
foundation for a more sustainable and interconnected world.