ACWA Power, together with SEFE, has signed a Memorandum of Understanding to build a hydrogen bridge between Saudi Arabia and Germany, targeting the supply of 200,000 tonnes of green hydrogen annually by 2030. This landmark agreement was witnessed by the Ministers of Energy from Saudi Arabia and Finance from Germany. ACWA Power will develop, invest in, and operate green hydrogen and green ammonia production assets, while SEFE will act as a co-investor and primary off-taker, marketing the green hydrogen to its European customers. The collaboration aims to enhance energy cooperation between the two countries, with a focus on decarbonization and meeting climate goals. The partnership signifies Saudi Arabia's progression as a major hydrogen producer and exporter. SEFE's investment in hydrogen infrastructure in Germany and Europe further solidifies its role in the green hydrogen supply chain. The agreement also aligns with the increasing demand for green hydrogen in Germany, seen as a sustainable solution for reducing emissions and achieving climate targets. ACWA Power's expanding green hydrogen portfolio includes projects in Saudi Arabia, Uzbekistan, Tunisia, and Egypt, with a significant focus on exporting green hydrogen to Europe. SEFE, with its substantial energy trading position, is strategically positioned to facilitate the green hydrogen supply chain, including transport and storage infrastructure development. Overall, the partnership between ACWA Power and SEFE is a critical step in advancing the energy transition towards sustainable and decarbonized energy sources, contributing to economic development, energy security, and environmental protection in both Saudi Arabia and Germany.