ACWA Power has struck a memorandum of understanding on studying a green hydrogen export corridor to Amsterdam.

The company signed the deal with Zenith Energy Terminals, GasLog and the Port of Amsterdam. The companies signed the deal during the Saudi-EU Investment Forum, in Riyadh. Saudi Arabia and the Netherlands agreed to work on green energy opportunities in May this year.

ACWA noted that it was involved in the Neom green hydrogen project, in Saudi, and was working on a second project in Uzbekistan.

“This collaboration is more than just a stepping stone – it is a leap towards a new horizon. As a first mover in green hydrogen, ACWA Power is not just unlocking the potential of green hydrogen, the fuel of the future, but we are also exporting our expertise and commitment to a global audience,” said the company CEO Marco Arcelli.

“Our collaboration with GasLog, Zenith Energy Terminals, and Port of Amsterdam signifies our dedication to clean energy leadership on an international stage.”

Under the MoU, the companies will carry out a feasibility study on liquid green hydrogen, travelling between ACWA’s production sites and Amsterdam. Depending on the results of the study, the group may reach a joint development agreement (JDA). This would involve agreeing roles and responsibilities, in addition to talks with potential offtakers around Amsterdam.