Saudi Arabia’s ACWA Power has lined up partners to explore renewable energy and green hydrogen exports to Europe.
The PIF-backed company signed agreements with France’s TotalEnergies, Germany’s EnBW, Italy’s Edison, Siemens Energy, and GE Vernova to study large-scale renewable projects in the kingdom and the creation of transcontinental power lines.
ACWA Power expects the first phase of its green hydrogen project in Saudi Arabia to start commercial operations in 2030. The broader energy export project is part of the India-Middle East-Europe Economic Corridor, which was announced at the G20 summit in 2023.