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Saudi Arabia, Germany sign MOU to facilitate production, export of green hydrogen
(MENAFN) On Monday, Saudi Arabia and Germany signed a memorandum of understanding (MoU) titled the “Saudi-German Green Hydrogen Bridge” to facilitate the production and export of green hydrogen and green ammonia from the Kingdom to Europe. This agreement marks a significant step in strengthening energy cooperation between the two nations and supporting Europe's transition to cleaner energy sources.
The signing took place in Riyadh during a meeting between Saudi Energy Minister Prince Abdulaziz bin Salman and German Finance Minister Jörg Kukies. The discussions focused on collaboration in the energy sector, particularly in clean hydrogen development, building on a previous MoU signed between the two countries in 2021. According to the Saudi Press Agency (SPA), the new agreement reinforces the commitment of both nations to advancing sustainable energy solutions.
As part of the memorandum, Saudi Arabia’s ACWA Power and Germany’s SEVI will work together on joint projects aimed at exporting 200,000 tons of green hydrogen annually from the Kingdom to Europe by 2030. ACWA Power will take on the role of developer, investor, and operator of green hydrogen and ammonia production assets, while SEVI, one of Europe’s largest energy trading companies, will serve as a co-investor and key offtaker, ensuring the supply of green hydrogen to customers in Germany and across Europe.
This initiative aligns with Saudi Arabia's broader efforts to position itself as a global leader in green hydrogen production and export. Additionally, the cooperation falls under the framework of the Saudi-German Energy Dialogue, which seeks to enhance partnerships in renewable energy and clean hydrogen technologies. The agreement reflects the two nations’ shared vision of driving innovation and sustainability in the energy sector while contributing to global decarbonization efforts.
The signing took place in Riyadh during a meeting between Saudi Energy Minister Prince Abdulaziz bin Salman and German Finance Minister Jörg Kukies. The discussions focused on collaboration in the energy sector, particularly in clean hydrogen development, building on a previous MoU signed between the two countries in 2021. According to the Saudi Press Agency (SPA), the new agreement reinforces the commitment of both nations to advancing sustainable energy solutions.
As part of the memorandum, Saudi Arabia’s ACWA Power and Germany’s SEVI will work together on joint projects aimed at exporting 200,000 tons of green hydrogen annually from the Kingdom to Europe by 2030. ACWA Power will take on the role of developer, investor, and operator of green hydrogen and ammonia production assets, while SEVI, one of Europe’s largest energy trading companies, will serve as a co-investor and key offtaker, ensuring the supply of green hydrogen to customers in Germany and across Europe.
This initiative aligns with Saudi Arabia's broader efforts to position itself as a global leader in green hydrogen production and export. Additionally, the cooperation falls under the framework of the Saudi-German Energy Dialogue, which seeks to enhance partnerships in renewable energy and clean hydrogen technologies. The agreement reflects the two nations’ shared vision of driving innovation and sustainability in the energy sector while contributing to global decarbonization efforts.
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