Saudi Arabia's International Power and Water Company signs agreement to export green hydrogen to Europe.

On Sunday, Saudi International Power and Water Company signed a number of agreements and memoranda of understanding with international partners, aiming to create a green hydrogen and renewable energy export value chain between Saudi Arabia and Europe. The company signed memoranda of understanding with Edison Company, Total Eren Renewable Energy Company, Zhero Europe Company, and the Baden-Wrttemberg Energy Agency of Germany. This memorandum establishes a framework for cooperation to assess market demand and feasibility for large-scale renewable energy projects specifically for export in Saudi Arabia, and to plan a channel to transmit the generated power to Europe. Saudi International Power and Water Company also signed several memoranda of understanding to strengthen relations with key institutions involved in the development of power channels. The company reached a joint development agreement with its German partner, the Baden-Wrttemberg Energy Agency of Germany, to collaborate on the first phase of the Yanbu Green Hydrogen Center project, which is planned to be commercially operational by 2030.