Saudi Arabia and Germany have signed an important agreement to boost green hydrogen exports from the kingdom to Europe. The memorandum of understanding (MoU) was signed between ACWA Power and Germany’s Sefe, with Saudi Energy Minister Prince Abdulaziz bin Salman and German Finance Minister Jörg Kukies present at the event, according to the Saudi Press Agency, reports Argaam.
The agreement focuses on producing and exporting green hydrogen and green ammonia to Europe. As part of the plan, 200,000 tons of green hydrogen will be sent from Saudi Arabia to Europe every year by 2030.
Under the deal, ACWA Power will take responsibility for developing, investing in, and running the production facilities, while Sefe, a major energy trading company in Europe, will act as a co-investor and manage the supply of green hydrogen to customers in Germany and other European countries.
This agreement is part of Saudi Arabia’s efforts to expand its role as a leader in green hydrogen production and exports. It also aligns with the goals of the Saudi-German Energy Dialogue, which promotes cooperation between the two countries in renewable energy and clean hydrogen technology.
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