RIYADH: To further their sustainable energy collaboration, Saudi Arabia and Germany have agreed to export 200k tonnes of green hydrogen per year from the Kingdom to Europe by 2030. The Saudi firm will act as the developer, investor, and principal operator of green hydrogen and ammonia production assets under the terms of the memorandum of understanding signed by ACWA Power with the German energy trading firm SEFE.
In addition to serving as a major purchaser and co-investor, SEFE will be in charge of promoting the green hydrogen to its clients in Germany and throughout Europe. German Finance Minister Jorg Kukies met with Prince Abdulaziz bin Salman, the Kingdom’s Energy Minister, to sign the agreement.
The deal, which focusses on green hydrogen generation, processing, and transportation, is a component of the ongoing Saudi-German Energy Dialogue. This supports the initiative’s objective to promote cooperation in renewables and hydrogen technologies while reaffirming the Kingdom’s position in the global energy transition and is consistent with Saudi Arabia’s strategic push for clean energy.
Building on the 2021 Memorandum of Understanding, the two countries discussed areas of shared interest in the energy sector at the meeting, especially clean hydrogen projects. This continues the expanding energy cooperation between Germany and Saudi Arabia after the agreement.
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