ACWA Power has signed a series of agreements with European partners aimed at creating a green hydrogen and renewable energy export corridor between Saudi Arabia and Europe, the company said on Monday.
The multi-party memorandum of understanding (MoU) includes Italian utility Edison SpA, Zhero Europe BV, France’s TotalEnergies Renewables SAS, and Germany’s EnBW. The agreement outlines a framework to jointly assess market demand and the feasibility of developing large-scale renewable energy projects in Saudi Arabia for export to Europe.
“This MoU establishes a collaborative framework to assess the market demand and feasibility of developing large-scale renewable energy projects dedicated for export,” ACWA Power said in a statement, noting the strategic importance of building infrastructure to transport clean energy across borders.
The company also signed a series of bilateral MoUs with key technology and infrastructure firms to support the development of electricity transmission corridors. These partners include Italian engineering consultancy CESI, cable and HVDC technology providers such as Prysmian (Italy), GE Vernova (Germany), Siemens Energy (Germany), and Hitachi (France).
The agreements aim to enhance cross-border energy infrastructure by improving supply reliability and transmission efficiency. They come as Saudi Arabia seeks to position itself as a global supplier of renewable energy and green hydrogen.
In a related development, ACWA Power concluded a joint development agreement with Germany’s EnBW to collaborate on the first phase of the Yanbu Green Hydrogen Hub. The project is expected to begin commercial operations by 2030.
The announcements were made during a renewable energy and hydrogen export workshop hosted by ACWA Power under the supervision of Saudi Arabia’s Ministry of Energy. The event highlighted ongoing efforts to diversify the kingdom’s energy mix and strengthen international cooperation in clean energy.
ACWA Power added that the new partnerships align with the broader India-Middle East-Europe Economic Corridor (IMEC) initiative, which aims to enhance energy and trade connectivity between the regions.
