ACWA Power, a Saudi-listed company, and SEFE Securing Energy for Europe have signed a Memorandum of Understanding to establish a hydrogen bridge between Saudi Arabia and Germany. The initial target is to supply 200,000 tonnes of green hydrogen annually to Europe by 2030. ACWA Power will lead in developing, investing, and operating green hydrogen and green ammonia production assets, while SEFE will be the primary off-taker, marketing the green hydrogen to European customers. This agreement supports Germany's demand for green hydrogen as a sustainable solution for decarbonization and aligns with Saudi Arabia's goal of becoming a major hydrogen producer and exporter. The cooperation between ACWA Power and SEFE aims to enhance energy cooperation between the two countries, contribute to global decarbonization efforts, and strengthen European energy security. Additionally, SEFE is investing in hydrogen transport and storage infrastructure in Germany, further promoting the green hydrogen supply chain. ACWA Power's expanding green hydrogen portfolio includes projects such as the NEOM Green Hydrogen Project and initiatives in Uzbekistan, Tunisia, and Egypt. The partnership between ACWA Power and SEFE signifies a significant step towards a sustainable green energy future and supports the transition to a low-carbon economy.