Saudi Arabia and Germany have signed the “Saudi-German Green Hydrogen Bridge” agreement, which aims to produce green hydrogen and green ammonia and export them to Europe. In this context, Saudi Arabia's energy company ACWA Power and Germany's SEVI aim to export 200,000 tons of green hydrogen annually by 2030. ACWA Power will be the main company developing and operating the project, while SEVI will supply hydrogen to the European market.
Saudi Arabia is accelerating its investments in energy transition as it aims to become a major player in the global hydrogen market. The NEOM Green Hydrogen Project stands out as one of the largest initiatives in this field. When completed, the project will produce 600 tons of carbon-free hydrogen per day and will be realized with a total investment of 8.4 billion dollars. With the strong support of the government, the project was the first company in Saudi Arabia to receive an official license for green hydrogen production.
Green hydrogen stands out as a clean fuel produced using wind and solar energy. It is seen as an alternative to fossil fuels, especially in energy-intensive sectors such as the metal industry and aviation. This fuel, which is expected to play a critical role in reducing carbon emissions globally, is of strategic importance for Europe and other major markets.
Saudi Arabia's hydrogen investments aim to contribute not only to the energy sector but also to the country's economic diversification. Officials predict that investments will increase further in the coming years, depending on demand, and Saudi Arabia will become one of the leading countries in this field.
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