Saudi Arabia expands renewable exports to Europe
Saudi Arabia has strengthened its position as a future clean energy supplier to Europe through a series of agreements signed in Riyadh, aimed at establishing export corridors for renewable energy and green hydrogen.
The agreements were signed by ACWA Power in the presence of Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz Al Saud during a dedicated workshop on renewable energy and green hydrogen exports. The event brought together senior government officials from Saudi Arabia, Greece, France, and Germany, alongside executives from leading international companies.
A multi-party memorandum of understanding was signed with prominent European firms including Italy's Edison S.p.A., France's TotalEnergies Renewables SAS, Italy's Zhero Europe B.V., and Germany's EnBW. This framework will assess market demand and examine the feasibility of developing large-scale renewable energy projects specifically for European export.
ACWA Power also secured individual agreements with key infrastructure partners, including Italian technical consultant CESI and major technology providers Prysmian, GE Vernova, Siemens Energy, and Hitachi. These partnerships focus on developing advanced energy transmission corridors to enhance supply reliability and cross-border infrastructure efficiency.
Particularly significant is a joint development agreement with German partner EnBW for the first phase of the Yanbu Green Hydrogen Hub, scheduled for commercial operations by 2030. The facility will feature integrated renewable electricity generation, desalination plants for hydrogen electrolysis, ammonia conversion capabilities, and a dedicated export terminal.
The initiatives leverage Saudi Arabia's strategic geographical position and its leadership role in the India-Middle East-Europe Economic Corridor (IMEC) project. The kingdom's competitive advantages in renewable energy development position it as a crucial player in Europe's clean energy transition.
These partnerships align with Saudi Vision 2030's objectives whilst reinforcing the kingdom's commitment to global energy security and the advancement of sustainable energy infrastructure connecting East and West.
