Securing Energy for Europe (SEFE) has signed a memorandum of understanding (MoU) with ACWA Power, a Saudi-listed company and the world’s largest private water desalination company, a pioneer in green hydrogen, and a leader in the energy transition. The collaboration aims to produce and supply green hydrogen to Europe, marking a pivotal step in strengthening energy cooperation between Saudi Arabia and Germany.
Under the MoU, SEFE and ACWA Power will establish a hydrogen bridge between Saudi Arabia and Germany, with an initial target of supplying 200,000 tonnes of green hydrogen annually by 2030. ACWA Power will act as the lead developer, investor, and operator of green hydrogen and green ammonia production assets. SEFE will serve as a co-investor and the primary off-taker, leveraging its position as one of Europe’s largest energy trading companies to market the green hydrogen to its German and European customers. This agreement aligns with Germany’s growing demand for green hydrogen as a sustainable solution to decarbonise its economy and meet its climate goals.
Dr Egbert Laege, SEFE CEO, says: ‘This partnership perfectly embodies our dual ambition: securing Europe’s energy supply while driving the energy transition. By expanding our green hydrogen portfolio and investing in the local production, we are equipping ourselves with solutions to help our customers achieve decarbonisation.’
Marco Arcelli, ACWA Power CEO, adds: ‘This MoU with SEFE marks a significant milestone in accelerating the green hydrogen economy in Europe. By combining ACWA Power’s proven expertise in green hydrogen production with SEFE’s extensive market knowledge, we are forming a strong partnership to deliver substantial quantities of green hydrogen to Germany and beyond, making a meaningful contribution to global decarbonisation efforts.’
