RIYADH — The Saudi government has granted Acwa an exclusive mandate to export green hydrogen and its derivatives produced in the Kingdom to international markets.
The company has also been assigned to develop renewable electricity export projects serving Europe and the Arab region.
The approval gives Acwa the exclusive right to export Saudi-produced green hydrogen, including green ammonia, green methanol and green fuels, as global demand for low-carbon energy accelerates.
Under the mandate, Acwa will also develop projects for the production, transmission and export of renewable electricity to European and Arab markets, supporting regional energy security while expanding the Kingdom’s clean electricity exports.
Acwa currently manages a portfolio of 111 assets across 16 countries, with assets under management valued at SR468.9 billion (approximately $125 billion), reinforcing its position as a strategic partner in advancing Saudi Arabia’s long-term economic diversification, industrial development and clean energy ambitions.
Source: Saudi Gazette