Saudi Arabia and Germany have taken a significant step in advancing their energy partnership with the signing of a new memorandum of understanding (MoU) aimed at boosting green hydrogen production and exports.
Saudi Minister of Energy, Prince Abdulaziz bin Salman bin Abdulaziz, met with Germany’s Minister of Finance, Jörg Kukies, in Riyadh to discuss key energy sector initiatives, including joint efforts in clean hydrogen development. The discussions built on the 2021 MoU between the two nations focused on advancing renewable energy cooperation.
Following the meeting, the ministers witnessed the signing of the “Saudi-German Green Hydrogen Bridge” MoU between Saudi Arabia’s ACWA Power and Germany’s SEFE. The agreement sets the framework for developing projects that will produce and export 200,000 tons of green hydrogen annually from Saudi Arabia to Europe by 2030.
Under the partnership, ACWA Power will lead as the project developer, investor, and primary operator of production assets, while SEFE, a key European energy firm, will serve as a co-investor and primary off-taker responsible for marketing the hydrogen across Germany and Europe.
This initiative aligns with Saudi Arabia’s strategic goal of becoming a global leader in green hydrogen production and export, reinforcing its commitment to the energy transition. The agreement also strengthens bilateral cooperation under the Saudi-German Energy Dialogue, which focuses on advancing renewable energy and clean hydrogen technologies.
