ACWA Power has inked a memorandum of understanding (MoU) with SEFE. The partnership aims to produce and deliver green hydrogen to Europe and strengthen energy cooperation between Saudi Arabia and Germany. Under this agreement, the two companies will establish a hydrogen bridge between Saudi Arabia and Germany, with an initial target of supplying 200,000 tonnes of green hydrogen annually by 2030.
Furthermore, ACWA Power will act as the lead developer, investor, and operator of green hydrogen and green ammonia production assets. SEFE will act as a co-investor and the primary off-taker for the project.
Earlier in January 2025, ACWA Power inked a MoU with Snam to explore potential collaboration and joint investments. This partnership aims to establish a dependable and cost-effective green hydrogen supply chain from Saudi Arabia to Europe.
