Saudi Arabia signs MoUs to export renewable energy, green hydrogen to Europe

RIYADH, July 20 (KUNA) -- Saudi Arabia signed on Sunday a number of agreements and memoranda of understanding through Saudi company ACWA Power with several international partners, aimed at creating a Green Hydrogen and Renewable Energy Export value chain between Saudi Arabia and Europe.
Saudi Ministry of Energy said in a statement that this came during the Renewable Energy and Green Hydrogen Export Workshop, led by ACWA Power under the supervision of the Ministry of Energy, in the presence of Minister of Energy Prince Abdulaziz bin Salman Al-Saud.
The event brought together high-level government representatives from Saudi Arabia, Greece, France, and Germany, alongside executives from global specialized companies and leading national institutions.
These MoUs establish a collaborative framework to assess the market demand and feasibility of developing large-scale renewable energy projects dedicated for export in Saudi Arabia and the creation of a corridor to deliver generated electricity to Europe.
The agreements also aim to develop advanced energy transmission corridors that enhance supply reliability and the efficiency of cross-border energy infrastructure.
This workshop - along with the signed agreements and memoranda of understanding - underscores the Kingdom's leading role in the IMEC project, leveraging its unique geographical location, highlighting the Kingdom's competitive advantages, which make its participation pivotal to the IMEC's success.
In addition, the agreements reflect the Kingdom's pioneering role in enhancing global energy security, advancing regional and international interconnection projects, and driving the transition toward a sustainable and resilient energy future - fully aligned with the objectives of Saudi Vision 2030.
The workshop showcased the Kingdom's progress in diversifying its energy mix and promoting regional and international integration in clean energy-reinforcing its position as a reliable global supplier of energy and a key leader in the economic corridor connecting East and West. (end) kns.seo