ACWA Power, a Saudi Arabia-based company, has entered into agreements and MoUs with international partners to develop a green hydrogen and renewable energy export value chain between Saudi Arabia and Europe. The collaborations are part of Saudi Arabia’s efforts to enhance global logistics connectivity through the India-Middle East-Europe economic corridor initiative. The company formalized these partnerships during the Renewable Energy and Green Hydrogen Export Workshop supervised by Saudi Arabia’s Ministry of Energy. Agreements include a multi-party MoU focusing on assessing market demand for large-scale renewable energy projects for electricity export to Europe. Additionally, individual MoUs were signed with technology and cable providers to establish advanced energy transmission corridors to improve supply reliability. ACWA Power also signed a joint development agreement with EnBW for the Yanbu green hydrogen hub, slated for commercial operations by 2030. This hub will produce electricity from renewable sources, support hydrogen electrolysis and ammonia conversion processes, and include a dedicated export terminal. These initiatives align with Saudi Vision 2030 goals by promoting global energy security and sustainable energy transitions. In mid-July 2025, Saudi Arabia’s Principal Buyer signed agreements with ACWA Power-led consortium for developing seven solar and wind power projects with a total capacity of 15GW.