Saudi Arabia and Germany have signed a memorandum of understanding (MoU) to create the Saudi-German Green Hydrogen Bridge. This initiative involves ACWA Power and the German company SEFE, focusing on the production and export of green hydrogen and green ammonia from Saudi Arabia to Europe.
The agreement outlines plans for ACWA Power and SEFE to collaborate on projects, aiming to export 200,000 tons of green hydrogen annually to Europe by 2030. ACWA Power will serve as a developer, investor, and major operator of production assets, whereas SEFE will act as a co-investor and key purchaser, leveraging its position as one of Europe’s largest energy trading companies to market green hydrogen across Germany and Europe.
This collaboration highlights Saudi Arabia’s strategy to establish itself as a leader in the green hydrogen sector. It aligns with the goals of the Saudi-German Energy Dialogue, which seeks to enhance partnerships in renewable energy and clean hydrogen technologies.
SEFE, a German state-owned international energy company, plays a crucial role in ensuring supply security and supporting the decarbonization efforts of its clients. The company operates across the energy value chain, from origination and trading to sales, transport, and storage.
