Austria wants in on MENA hydrogen exports: Tadawul-listed Acwa Power signed an MoU with Austrian utilities company Verbund to explore the developments of green hydrogen projects in MENA for export, according to a statement. The green hydrogen produced would be distributed by Verbund in Central Europe, and specifically in Austria.

Acwa recently expanded in Eastern Europe: The company is currently building a 240 MW wind farm in Azerbaijan with a reported investment of USD 300 mn — said to be the first foreign investment in renewables in the country — and has plans for more projects, with an eye to export electricity to Europe through the country, which sits between Eastern Europe and Western Asia.

About Verbund: The company operates hydroelectric plants in Austria and Germany — collectively handling some 130 facilities in both countries — and sourcing some 95% of their energy from renewable hydroelectric power, according to a company statement.