Saudi Arabia to Export 200,000 Tons of Green Hydrogen to Europe by 2030
Key Ideas
- Saudi Arabia and Germany have signed a memorandum of understanding to export 200,000 tons of green hydrogen annually to Europe by 2030.
- The deal between Saudi ACWA Power and Germany's SEFE Energy Company aims to create a hydrogen bridge between the two countries.
- ACWA Power's CEO Marco Arcelli emphasized the significance of the partnership in accelerating the green hydrogen economy in Europe.
- The partnership is expected to contribute to global decarbonisation efforts by delivering substantial quantities of green hydrogen to Germany and beyond.
Saudi Arabia and Germany have entered into a significant agreement to export green hydrogen from Saudi Arabia to Europe. This deal, part of a memorandum of understanding, involves the export of 200,000 tons of green hydrogen annually by 2030. The agreement was confirmed by the Saudi Energy Ministry and involves Saudi ACWA Power and Germany's SEFE Energy Company. The partnership aims to establish a hydrogen bridge between the two countries, with ACWA Power's CEO expressing excitement about accelerating the green hydrogen economy in Europe. By combining ACWA Power's expertise with SEFE's market knowledge, the partnership seeks to make a substantial contribution to global decarbonisation efforts. This development comes as German President Frank-Walter Steinmeier visits Saudi Arabia as part of a regional tour, including stops in Jordan and Turkey.