Acwa Power and friends look into exporting green hydrogen to the EU: KSA renewables giant Acwa Power has signed an agreement with Dutch-based terminals operator Zenith Energy, LNG shipping services GasLog, and the Port of Amsterdam to explore the feasibility of opening a green hydrogen corridor extending from the kingdom to Europe via Amsterdam, according to a statement.

What we know: Under the MoU, all parties will conduct a feasibility study to explore establishing a trade corridor for liquified green hydrogen between Acwa Power’s production sites and the port of Amsterdam, the statement notes. Based on the results, the stakeholders may proceed to sign in a Joint Development Agreement (JDA) to define each of the parties’ roles and responsibilities and engage with offtakers in the EU.

There’s more: The parties will also explore incentives to increase the appetite for green hydrogen including affordable pricing, the statement adds, noting that the Dutch government has earmarked EUR 9 bn for the development of green hydrogen production and distribution with EUR 300 mn is reserved for imports up until 2030.

Acwa’s stakes in Neom will come in handy: 100% of the green hydrogen produced in Neom’s green hydrogen plant — of which Acwa holds a 33.3% stake — is marked for export, with project co-developer US-based Air Products looking to earmark a sizable portion of Neom’s green fuels for Germany.

The Port of Amsterdam has been busy: Last month, Suez Canal Economic Zone (SCZone) signed a cooperation agreement with a consortium of Dutch-based green hydrogen developers to establish subsea interconnectors facilitating the export of green fuels from Egypt to the Port of Amsterdam. Back in January, the Port of Amsterdam and Dutch firms SkyNRG, Evos Amsterdam, and Zenith Energy Terminals signed an agreement with the UAE’s Masdar to similarly explore the possibilities of green fuel exports to Europe. The Dutch government has similar agreements with Oman, Deputy Director at Port of Amsterdam Mark Hoolwerf told us last month.

IN OTHER ACWA NEWS- Acwa Power also inked an agreement during the EU-Saudi Investment Forum with Desolenator — a Dutch company pioneering circular solar thermal water desalination systems — to explore development across MENA’s renewables, desalination, and green hydrogen production sectors, Asharq Business reports. The agreement will see both firms partner on research and development and knowledge transfer programs across the clean energy industry.