NEOM Green Hydrogen Project Nears Completion, ACWA Power to Export to Europe
Key Ideas
  • The NEOM Green Hydrogen project led by ACWA Power is at an advanced stage with an 85% completion rate.
  • ACWA Power plans to test and commission the facilities next year for exporting green energy to Germany and Europe.
  • Saudi Arabia aims to have 130 gigawatts of renewable energy capacity by 2030, positioning the country as a significant exporter of green energy products.
  • ACWA Power, with 22 gigawatts under development and construction, continues to sign contracts for an additional 20 gigawatts annually.
Mohammad Abunayyan, Chairman of ACWA Power, shared updates on the NEOM Green Hydrogen project, highlighting an 85% completion rate. The project aims to reduce carbon emissions by exporting green energy, including hydrogen, to Germany and Europe. ACWA Power is actively developing 22 gigawatts of energy infrastructure, with plans to reach 130 gigawatts of renewable energy capacity in Saudi Arabia by 2030. This significant capacity expansion will position Saudi Arabia as a key exporter of green energy to Europe and neighboring countries. Through the panel discussion at the World Economic Forum, Abunayyan emphasized the company's commitment to sustainable energy development and the growing importance of green hydrogen in the global energy transition.
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