Government approval gives the Riyadh-based utility exclusive rights to export green hydrogen and derivatives, plus a mandate to develop renewable electricity export projects to Europe and Arab markets
Saudi utility developer Acwa Power has received an exclusive government mandate to export green hydrogen and its derivatives produced in the kingdom to international markets, positioning the company at the centre of Saudi Arabia’s strategy to become a global clean energy exporter.
The exclusivity covers the export of green ammonia, green methanol, green methane and synthetic fuels manufactured using green hydrogen, according to a bourse filing. The approval supports the kingdom’s objective of establishing itself as a leader in clean energy exports and accelerating the development of a diversified, low-carbon economy under Vision 2030.
Beyond hydrogen, the government has commissioned the company to develop projects for the production, transmission and export of electricity generated from renewable sources. Those power exports are targeted at European markets and neighbouring Arab nations, supporting regional energy security while opening a new revenue stream for the kingdom.
The mandate is expected to support the implementation of several export agreements the company has already signed. In July 2025, Acwa Power concluded a series of agreements and memorandums of understanding to export renewable energy and green hydrogen to Europe under the India-Middle East-Europe Economic Corridor. In February, it signed a memorandum for a green ammonia corridor with German partners including EnBW Energie Baden-Wurttemberg.
The company is already the developer behind the kingdom’s two flagship green hydrogen schemes. It co-develops the $8.4bn Neom Green Hydrogen Company, a joint venture with Air Products and Neom that is due to begin commercial operations in 2026 and will produce up to 1.2 million tonnes of green ammonia a year. It is also developing the Yanbu Green Hydrogen Hub with EnBW, an integrated facility with captive renewable generation, desalination, electrolysis and an export terminal, targeted for commercial operations by 2030.
Acwa Power, which is majority owned by Saudi sovereign wealth vehicle the Public Investment Fund, holds a portfolio spanning renewable energy, green hydrogen, desalination and energy infrastructure in 15 countries.
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