Latest news with #RenewableEnergyandGreenHydrogenExportWorkshop
Arabian Post
3 days ago
- Business
- Arabian Post
Saudi's ACWA Power Paves Highway for Green Energy Exports
Greenlogue/AP ACWA Power has forged multi-party preliminary agreements with European energy giants to assess exporting renewable energy and green hydrogen from Saudi Arabia to Europe via the India–Middle East–Europe Economic Corridor. The accords aim to explore large-scale project feasibility and develop cross-border transmission corridors. The MoUs were signed in Riyadh on 20 July during a Renewable Energy and Green Hydrogen Export Workshop presided over by the Ministry of Energy. The consortium includes Italy's Edison SpA and Zhero Europe BV, France's TotalEnergies Renewables SAS, and Germany's EnBW Energie Baden‑Württemberg AG. ADVERTISEMENT ACWA Power has also inked separate agreements with infrastructure specialists: Italy's CESI, cable maker Prysmian, GE Vernova, Siemens Energy of Germany, and France's Hitachi Energy. These deals focus on high-voltage direct current systems, aiming to streamline efficiency and bolster reliability in transmissions to Europe. A standout in the deal portfolio is the joint development agreement with EnBW for Phase 1 of the Yanbu Green Hydrogen Hub, targeted for commercial operation by 2030. The hub will integrate renewable power, desalination for hydrogen electrolysis, ammonia conversion, and an export terminal. These agreements aim to channel Saudi Arabia's competitive renewable energy capacity into Europe's clean energy transition, leveraging the IMEC framework. IMEC's northern corridor, connecting the Gulf to Europe, involves maritime and rail links designed to reduce shipping costs and enhance trade connectivity. Analysts note that by 2030, combined exports from IMEC-linked regions could comprise 44 per cent of global trade. ACWA Power, majority-owned by the Public Investment Fund and operating across 14 countries, manages a substantial USD 107.5 billion portfolio comprising 101 power and water desalination projects. This includes its flagship Neom Green Hydrogen project—the world's largest—set to launch in 2026, and the Yanbu initiative represents an expansion of its strategic footprint. Saudi Arabia's Vision 2030 agenda underpins these efforts, reflecting a national shift toward sustainable energy exports as a diversification of its economy. The kingdom recently approved agreements totalling over SAR 31 billion for renewable projects by ACWA‑led consortiums. Earlier this year, ACWA also entered a green‑hydrogen agreement with Germany's Securing Energy for Europe aimed at shipping 200,000 tonnes annually by 2030. ADVERTISEMENT Prince Abdulaziz bin Salman bin Abdulaziz Al Saud, Minister of Energy, highlighted during the workshop that the agreements establish a collaborative framework to assess market demand and feasibility for large-scale renewable exports and corridor development. Industry observers suggest these partnerships could redefine global green‑energy supply chains, reinforcing the kingdom as an exporter of clean energy solutions. Navlist next. [1]: 'Saudi's ACWA Power signs agreements with European companies to export renewable energy' [2]: 'Acwa Power signs pacts to export renewable energy and green hydrogen to Europe' Saudi's ACWA Power Paves Highway for Green Energy Exports ACWA Power has forged multi-party preliminary agreements with European energy giants to assess exporting renewable energy and green hydrogen from Saudi Arabia to Europe via the India–Middle East–Europe Economic Corridor. The accords aim to explore large-scale project feasibility and develop cross-border transmission corridors. The MoUs were signed in Riyadh on 20 July during a Renewable Energy and Green Hydrogen Export Workshop presided over by the Ministry of Energy. The consortium includes Italy's Edison SpA and Zhero Europe BV, France's TotalEnergies Renewables SAS, and Germany's EnBW Energie Baden‑Württemberg AG. ACWA Power has also inked separate agreements with infrastructure specialists: Italy's CESI, cable maker Prysmian, GE Vernova, Siemens Energy of Germany, and France's Hitachi Energy. These deals focus on high-voltage direct current systems, aiming to streamline efficiency and bolster reliability in transmissions to Europe. A standout in the deal portfolio is the joint development agreement with EnBW for Phase 1 of the Yanbu Green Hydrogen Hub, targeted for commercial operation by 2030. The hub will integrate renewable power, desalination for hydrogen electrolysis, ammonia conversion, and an export terminal. These agreements aim to channel Saudi Arabia's competitive renewable energy capacity into Europe's clean energy transition, leveraging the IMEC framework. IMEC's northern corridor, connecting the Gulf to Europe, involves maritime and rail links designed to reduce shipping costs and enhance trade connectivity. Analysts note that by 2030, combined exports from IMEC-linked regions could comprise 44 per cent of global trade. ACACWA Power, majority-owned by the Public Investment Fund and operating across 14 countries, manages a substantial USD 107.5 billion portfolio comprising 101 power and water desalination projects. This includes its flagship Neom Green Hydrogen project—the world's largest—set to launch in 2026, and the Yanbu initiative represents an expansion of its strategic footprint. SaSaudi Arabia's Vision 2030 agenda underpins these efforts, reflecting a national shift toward sustainable energy exports as a diversification of its economy. The kingdom recently approved agreements totalling over SAR 31 billion for renewable projects by ACWA‑led consortiums. Earlier this year, ACWA also entered a green‑hydrogen agreement with Germany's Securing Energy for Europe aimed at shipping 200,000 tonnes annually by 2030. Prince Abdulaziz bin Salman bin Abdulaziz Al Saud, Minister of Energy, highlighted during the workshop that the agreements establish a collaborative framework to assess market demand and feasibility for large‑scale renewable exports and corridor development. Industry observers argue these partnerships could redefine global green‑energy supply chains, reinforcing the kingdom as a leading exporter of clean energy solutions.
Al Etihad
3 days ago
- Business
- Al Etihad
Saudi Arabia signs agreements for green hydrogen, power exports to Europe
20 July 2025 23:17 RIYADH (WAM)Saudi Arabia's ACWA Power signed on Sunday, in Riyadh, agreements and memoranda of understanding (MoUs) with several international partners, aimed at creating a green hydrogen and renewable energy export value chain between Saudi Arabia and signing of these agreements and MoUs comes as part of the Kingdom's pioneering role in enhancing global logistics connectivity and its leadership in the India-Middle East-Europe Economic Corridor (IMEC) project, driven by its strategic geographical location that connects East and agreements and MoUs were signed during the Renewable Energy and Green Hydrogen Export Workshop, led by ACWA Power under the supervision of the Ministry of Energy. The event brought together high-level government representatives from Saudi Arabia, Greece, France, and Germany, alongside executives from global specialised companies and leading national workshop showcased the Kingdom's progress in diversifying its energy mix and promoting regional and international integration in clean energy—reinforcing its position as a reliable global supplier of energy and a key leader in the economic corridor connecting East and West. Moreover, a joint development agreement was concluded for collaboration on the first phase of the Yanbu Green Hydrogen Hub, which is planned to be ready for commercial operations by 2030.
Saudi Gazette
4 days ago
- Business
- Saudi Gazette
Saudi Arabia launches green hydrogen export value chain to Europe
Saudi Gazette report RIYADH — Saudi Arabia has launched a strategic value chain to export green hydrogen and renewable energy to Europe, marking a major step in its efforts to become a global clean energy hub. The move was formalized on Sunday as ACWA Power signed a series of agreements and memoranda of understanding (MoUs) with leading international partners during a high-level workshop in Riyadh. Held under the supervision of the Ministry of Energy and attended by Minister of Energy Prince Abdulaziz bin Salman, the Renewable Energy and Green Hydrogen Export Workshop brought together top officials from Saudi Arabia, Greece, France, and Germany, as well as executives from global energy firms and national institutions. The agreements aim to establish a robust framework for developing large-scale renewable energy projects in the Kingdom dedicated to export, and to create transmission corridors linking Saudi Arabia and Europe. The initiative is also part of the Kingdom's leading role in the India-Middle East-Europe Economic Corridor (IMEC), reinforcing its strategic position connecting East and West.A multi-party MoU was signed between ACWA Power and major European firms, including Edison S.p.A. (Italy), TotalEnergies Renewables SAS (France), Zhero Europe B.V. (Netherlands), and EnBW (Germany), to assess market demand and technical feasibility for electricity MoUs were signed with HVDC cable and transmission specialists such as CESI, Prysmian, GE Vernova, Siemens Energy, and Hitachi to support infrastructure development across borders.A Joint Development Agreement was also concluded with Germany's EnBW to collaborate on the Yanbu Green Hydrogen Hub, which is set to begin operations in 2030. The project will be a fully integrated complex with renewable energy generation, desalination, electrolysis, ammonia conversion, and a dedicated export terminal.
