ACWA Power and SEFE Collaborate on Green Hydrogen Export Project

Saudi Arabia and Germany have signed a memorandum of understanding (MoU) to establish the Saudi-German Green Hydrogen Bridge between ACWA Power and the German company SEFE.

The project aims to produce and export green hydrogen and green ammonia from Saudi Arabia to Europe. The MoU was signed in Riyadh in the presence of Minister of Energy Prince Abdulaziz bin Salman and Germany’s Minister of Finance Jorg Kukies. The ministers also discussed key energy sector topics, including clean hydrogen efforts, building on the MoU signed by both nations in 2021.

As per the MoU, ACWA Power and SEFE will collaborate on joint projects with an initial target to export 200,000 tons of green hydrogen annually from Saudi Arabia to Europe by 2030. ACWA Power will serve as the developer, investor, and primary operator of the green hydrogen and ammonia production assets, while SEFE will co-invest and act as the major buyer, marketing green hydrogen to customers across Germany and Europe.

This partnership strengthens Saudi Arabia’s position as a leading global producer and exporter of green hydrogen and is aligned with the objectives of the Saudi-German Energy Dialogue, aimed at enhancing cooperation in renewable energy and clean hydrogen technologies.

SEFE, a German state-owned international energy company, plays a key role in securing energy supply and driving decarbonisation efforts. Its activities span the entire energy value chain, from origination and trading to sales, transport, and storage.