In the Netherlands, Offshore Energy reported that Saudi developer of green hydrogen plants ACWA Power has sealed several agreements and memoranda of understanding (MoUs) with international partners to work on creating a green hydrogen and renewable energy export value chain between Saudi Arabia and Europe.
Under the supervision of Saudi Arabia’s Ministry of Energy, ACWA Power signed a joint development agreement with its German partner Energie Baden-Württemberg (EnBW) to collaborate on the first phase of the Yanbu Green Hydrogen Hub, planned to commence commercial operations by 2030.
In addition, ACWA Power executed a multi-party MoU with European companies, including Italy’s Edison and Zhero Europe, France’s TotalEnergies Renewables SAS, and Germany’s EnBW.
This MoU aims to establish a collaborative framework to assess the market demand and feasibility of developing large-scale renewable energy projects dedicated for export in Saudi Arabia and the creation of a corridor to deliver generated electricity to Europe, the report stated.
The Saudi company also concluded individual MoUs with CESI, Prysmian, GE Vernova, Siemens Energy, and Hitachi aimed at developing energy transmission corridors that will enhance supply reliability and the efficiency of cross-border energy infrastructure, it added.
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