Saudi Arabia signs MoUs for renewables exports to Europe

Saudi energy developer and investor ACWA Power has signed multiple agreements and MoUs with European companies to establish a green hydrogen and renewable energy export corridor from Saudi Arabia to Europe, the company announced on Sunday.

ACWA Power signed a multi-party MoU with TotalEnergies Renewables from France, Edison and Zhero Europe from Italy, and EnBW from Germany to explore large-scale renewable energy projects and the export of electricity to Europe.

In particular, with EnBW, ACWA Power signed a joint development agreement for the first phase of the Yanbu Green Hydrogen Hub, which is targeted for commercial launch by 2030. The project will feature integrated renewable power generation, desalination, hydrogen electrolysis, ammonia conversion and an export terminal.

Individual MoUs were also concluded with CESI, Prysmian, GE Vernova, Siemens Energy and Hitachi for the provision of technical services and equipment to support the development of cross-border energy transmission infrastructure.

The signings took place at the Renewable Energy and Green Hydrogen Export Workshop in Riyadh, led by ACWA Power under the purview of the Saudi Ministry of Energy. The event aims to support Saudi Arabia’s goals to diversify its energy mix, as well as enhance cross-border clean energy integration and logistics connectivity via the India-Middle East-Europe Economic Corridor (IMEC) project that links countries in Asia, the Gulf and Europe.

Source: theenergyyear.com