Saudi Arabia’s ACWA Power has signed a series of agreements and memoranda of understanding in Riyadh to establish a green hydrogen and renewable energy export value chain between the Kingdom and Europe, the Ministry of Energy announced on Sunday.

European partners include leading energy companies such as France’s TotalEnergies, Italy’s Edison, and Germany’s EnBW. ACWA Power also signed separate agreements with firms including Germany’s Siemens Energy to develop energy transmission corridors that will enable the cross-continental export of clean energy.

The agreements were formalized during the Renewable Energy and Green Hydrogen Export Workshop, hosted by ACWA Power under the supervision of the Ministry of Energy.

The event brought together senior government officials from Saudi Arabia, Greece, France, and Germany, along with executives from leading global energy companies and national institutions.

These partnerships support Saudi Arabia’s broader strategy to diversify its energy mix, strengthen global logistics connectivity, and position the Kingdom as a central player in the India-Middle East-Europe Economic Corridor (IMEC), capitalizing on its strategic location as a link between East and West.

A key announcement from the workshop was a joint development agreement for the first phase of the Yanbu Green Hydrogen Hub, which is scheduled to begin commercial operations by 2030.