Saudi Arabia Grants ACWA Power Exclusive Rights to Export Green Hydrogen to Global Markets
Saudi Arabia has granted ACWA Power exclusive rights to export green hydrogen produced within the Kingdom and its derivatives to global markets, reinforcing the country's clean energy ambitions and supporting its transition toward a low-carbon economy powered by renewable energy.
According to the company's disclosure on the Saudi Exchange (Tadawul), the government approval covers the export of green hydrogen and its derivatives, including green ammonia, green methanol, green methane, and fuels produced using green hydrogen, in line with Saudi Arabia's national clean energy objectives.
The decision further strengthens ACWA Power's role in the renewable energy sector. The company is the largest power generation and water desalination company in the Middle East, with a diversified portfolio of renewable energy and green hydrogen projects across 15 countries.
ACWA Power's total assets are valued at approximately $124.4 billion, while its total production capacity reaches 97.9 GW, with more than half generated from renewable energy projects, highlighting the company's continued investments in low-carbon technologies and sustainable energy development.
The exclusive export rights align with Saudi Vision 2030, which aims to diversify the Kingdom's economy, reduce dependence on oil revenues, and expand clean fuel production while maintaining Saudi Arabia's position as a global energy supplier.
The government approval also assigned ACWA Power to develop renewable electricity generation projects, along with electricity transmission and exports to European and Arab markets, with the company stating that it will disclose any material developments or financial impacts in accordance with market disclosure requirements.
The announcement comes as Saudi Arabia continues developing the NEOM Green Hydrogen Project, a joint venture between NEOM, ACWA Power, and Air Products. The project is among the world's largest green hydrogen facilities under construction and is expected to produce around 600 tonnes of carbon-free hydrogen per day by the end of 2026, backed by $8.4 billion in total investments.
Saudi Arabia is also expanding investments in the hydrogen sector. In 2024, the Public Investment Fund (PIF) established Energy Solutions to finance green hydrogen projects, with plans to invest at least $10 billion in building an integrated ecosystem covering production, financing, and exports.
