Saudi Arabia and Germany have signed a memorandum of understanding (MoU) to establish the Saudi-German Green Hydrogen Bridge between ACWA Power and the German company SEFE. The initiative aims to produce and export green hydrogen and green ammonia from Saudi Arabia to Europe. The MoU signing ceremony took place in Riyadh in the presence of Minister of Energy Prince Abdulaziz bin Salman and Germany’s Minister of Finance Jörg Kukies. The agreement outlines the joint efforts of ACWA Power and SEFE to develop projects with the initial target of exporting 200,000 tons of green hydrogen annually to Europe by 2030. ACWA Power will play a key role as a developer, investor, and operator of green hydrogen and green ammonia production assets, while SEFE will act as a co-investor and major buyer, responsible for marketing green hydrogen to customers in Germany and Europe. This collaboration is part of Saudi Arabia's strategy to solidify its position as a leading producer and exporter of green hydrogen. The partnership between the two countries also aims to achieve the objectives set forth in the Saudi-German Energy Dialogue, focusing on enhancing cooperation in the renewable energy and clean hydrogen sectors. SEFE, an international energy company, will utilize its expertise to ensure a secure energy supply and drive decarbonization efforts for its customers in Europe, contributing to sustainability and green energy transitions.