Saudi Arabia and Germany have signed a memorandum of understanding (MoU) to collaborate on a green hydrogen export project between ACWA Power and SEFE. The project aims to export 200,000 tons of green hydrogen annually to Europe by 2030. ACWA Power will be responsible for developing, investing in, and operating the green hydrogen and ammonia production assets, while SEFE will co-invest and market green hydrogen to customers in Germany and Europe. This partnership strengthens Saudi Arabia's presence as a key global producer and exporter of green hydrogen, aligning with the goals of the Saudi-German Energy Dialogue. The project was inaugurated in Riyadh in the presence of key ministers from both countries, highlighting the commitment to clean hydrogen efforts. SEFE, a German state-owned energy company, will play a crucial role in driving decarbonisation efforts and ensuring energy supply security. The collaboration aims to enhance cooperation in renewable energy and clean hydrogen technologies, positioning both countries at the forefront of sustainable energy production and export.