Saudi Arabia, Germany sign green hydrogen export deal for 200,000 tonnes annually

Saudi Arabia's ACWA Power has signed a Memorandum of Understanding with Germany's SEFE to produce and export green hydrogen to Europe, aiming for an initial supply of 200,000 tonnes annually by 2030. This agreement underscores the growing energy cooperation between the two nations and aligns with Germany's strategy to decarbonize its economy. ACWA Power will lead the development of green hydrogen and ammonia production, while SEFE will act as a co-investor and primary buyer, marketing the hydrogen across Europe. The deal was formalized during a meeting attended by Saudi Energy Minister Prince Abdulaziz bin Salman and German Finance Minister Jörg Kukies, building on previous agreements to enhance clean energy collaboration. Both companies are committed to leveraging their expertise to support Europe's energy transition and enhance Saudi Arabia's role in the global hydrogen market. The partnership is expected to contribute significantly to meeting European energy demands and advancing the global decarbonization agenda.