Saudi Arabia set to export 200,000 tons of Green hydrogen to Europe by 2030
Saudi Arabia has signed a memorandum of understanding (MoU) with Germany to export 200,000 tons of green hydrogen annually to Europe by 2030.
German President Frank-Walter Steinmeier is currently visiting Saudi Arabia as part of a regional tour that also includes Jordan and Türkiye, News.Az reports, citing foreign media.
In a statement, the Saudi Energy Ministry said the agreement was signed between the Saudi ACWA Power and Germany’s SEFE Energy Company on Monday evening.
Under the MoU, the partners will establish a hydrogen bridge between Saudi Arabia and Germany, with an initial target of supplying 200,000 tons of green hydrogen annually by 2030.
“This MoU with SEFE marks a significant milestone in accelerating the green hydrogen economy in Europe,” ACWA Power’s CEO Marco Arcelli said.
“By combining ACWA Power’s proven expertise in green hydrogen production with SEFE’s extensive market knowledge, we are forming a strong partnership to deliver substantial quantities of green hydrogen to Germany and beyond, making a meaningful contribution to global decarbonisation efforts.”
Earlier, Germany signed hydrogen import agreements with Brazil and Norway as part of its ongoing search for new energy sources following the Russia-Ukraine War.
Hydrogen is considered the optimal energy to reduce carbon and greenhouse gas emissions and is used for the operation of large industrial machinery, heavy vehicles, and heating systems.
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