ACWA Power Signs Deals to Build Green Energy Route from Saudi Arabia to Europe
ACWA Power has signed several agreements with global companies to create a green hydrogen and renewable energy route between Saudi Arabia and Europe. This announcement was made by Saudi Arabia’s Ministry of Energy.
Green Energy Exports
One major agreement was signed between ACWA Power and top European companies—Italy’s Edison, France’s TotalEnergies, the Netherlands’ Zhero Europe, and Germany’s EnBW. The goal is to explore the demand and possibility of building large renewable energy projects in Saudi Arabia and sending clean electricity to Europe through a special energy corridor.
ACWA Power also signed separate agreements with companies that specialize in infrastructure and energy technology, including CESI, Prysmian, GE Vernova, Siemens Energy, and Hitachi. These firms will help develop efficient systems to transmit electricity across countries.
Additionally, ACWA Power signed a Joint Development Agreement with EnBW for the first phase of the Yanbu Green Hydrogen Hub. This project is expected to start operating commercially by 2030.
These agreements support Saudi Arabia’s role in the India-Middle East-Europe Economic Corridor (IMEC) and its efforts to improve global trade and transport links.
The deals were signed during a workshop on renewable energy and green hydrogen exports, hosted by ACWA Power and overseen by the Ministry of Energy. Saudi Energy Minister Prince Abdulaziz bin Salman attended the signing ceremony.
Recent Projects
Last Thursday, ACWA Power signed a new agreement with Senegal to build a desalination plant, after reviewing the costs. Senegal’s President canceled the previous $800 million deal in July 2024 due to high expenses. The new plant is expected to produce 400,000 cubic meters of clean water per day, helping meet growing water needs. The World Bank predicts water demand could rise by 60% in the next 10 years.
Last week, ACWA Power, along with the Saudi sovereign wealth fund’s Badeel and Saudi Aramco Power Company, signed power deals with the Saudi Power Procurement Company. These deals are for building five large solar power plants and two wind farms across Saudi Arabia. The total investment is about $8.3 billion (SAR 31 billion). The projects will provide 15 gigawatts of electricity—12 GW from solar and 3 GW from wind—and are expected to start running between late 2027 and early 2028.
Published: 21st July 2025
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