Latest news with #IMEC
Arabian Post
a day ago
- Business
- Arabian Post
Saudi's ACWA Power Paves Highway for Green Energy Exports
Greenlogue/AP ACWA Power has forged multi-party preliminary agreements with European energy giants to assess exporting renewable energy and green hydrogen from Saudi Arabia to Europe via the India–Middle East–Europe Economic Corridor. The accords aim to explore large-scale project feasibility and develop cross-border transmission corridors. The MoUs were signed in Riyadh on 20 July during a Renewable Energy and Green Hydrogen Export Workshop presided over by the Ministry of Energy. The consortium includes Italy's Edison SpA and Zhero Europe BV, France's TotalEnergies Renewables SAS, and Germany's EnBW Energie Baden‑Württemberg AG. ADVERTISEMENT ACWA Power has also inked separate agreements with infrastructure specialists: Italy's CESI, cable maker Prysmian, GE Vernova, Siemens Energy of Germany, and France's Hitachi Energy. These deals focus on high-voltage direct current systems, aiming to streamline efficiency and bolster reliability in transmissions to Europe. A standout in the deal portfolio is the joint development agreement with EnBW for Phase 1 of the Yanbu Green Hydrogen Hub, targeted for commercial operation by 2030. The hub will integrate renewable power, desalination for hydrogen electrolysis, ammonia conversion, and an export terminal. These agreements aim to channel Saudi Arabia's competitive renewable energy capacity into Europe's clean energy transition, leveraging the IMEC framework. IMEC's northern corridor, connecting the Gulf to Europe, involves maritime and rail links designed to reduce shipping costs and enhance trade connectivity. Analysts note that by 2030, combined exports from IMEC-linked regions could comprise 44 per cent of global trade. ACWA Power, majority-owned by the Public Investment Fund and operating across 14 countries, manages a substantial USD 107.5 billion portfolio comprising 101 power and water desalination projects. This includes its flagship Neom Green Hydrogen project—the world's largest—set to launch in 2026, and the Yanbu initiative represents an expansion of its strategic footprint. Saudi Arabia's Vision 2030 agenda underpins these efforts, reflecting a national shift toward sustainable energy exports as a diversification of its economy. The kingdom recently approved agreements totalling over SAR 31 billion for renewable projects by ACWA‑led consortiums. Earlier this year, ACWA also entered a green‑hydrogen agreement with Germany's Securing Energy for Europe aimed at shipping 200,000 tonnes annually by 2030. ADVERTISEMENT Prince Abdulaziz bin Salman bin Abdulaziz Al Saud, Minister of Energy, highlighted during the workshop that the agreements establish a collaborative framework to assess market demand and feasibility for large-scale renewable exports and corridor development. Industry observers suggest these partnerships could redefine global green‑energy supply chains, reinforcing the kingdom as an exporter of clean energy solutions. Navlist next. [1]: 'Saudi's ACWA Power signs agreements with European companies to export renewable energy' [2]: 'Acwa Power signs pacts to export renewable energy and green hydrogen to Europe' Saudi's ACWA Power Paves Highway for Green Energy Exports ACWA Power has forged multi-party preliminary agreements with European energy giants to assess exporting renewable energy and green hydrogen from Saudi Arabia to Europe via the India–Middle East–Europe Economic Corridor. The accords aim to explore large-scale project feasibility and develop cross-border transmission corridors. The MoUs were signed in Riyadh on 20 July during a Renewable Energy and Green Hydrogen Export Workshop presided over by the Ministry of Energy. The consortium includes Italy's Edison SpA and Zhero Europe BV, France's TotalEnergies Renewables SAS, and Germany's EnBW Energie Baden‑Württemberg AG. ACWA Power has also inked separate agreements with infrastructure specialists: Italy's CESI, cable maker Prysmian, GE Vernova, Siemens Energy of Germany, and France's Hitachi Energy. These deals focus on high-voltage direct current systems, aiming to streamline efficiency and bolster reliability in transmissions to Europe. A standout in the deal portfolio is the joint development agreement with EnBW for Phase 1 of the Yanbu Green Hydrogen Hub, targeted for commercial operation by 2030. The hub will integrate renewable power, desalination for hydrogen electrolysis, ammonia conversion, and an export terminal. These agreements aim to channel Saudi Arabia's competitive renewable energy capacity into Europe's clean energy transition, leveraging the IMEC framework. IMEC's northern corridor, connecting the Gulf to Europe, involves maritime and rail links designed to reduce shipping costs and enhance trade connectivity. Analysts note that by 2030, combined exports from IMEC-linked regions could comprise 44 per cent of global trade. ACACWA Power, majority-owned by the Public Investment Fund and operating across 14 countries, manages a substantial USD 107.5 billion portfolio comprising 101 power and water desalination projects. This includes its flagship Neom Green Hydrogen project—the world's largest—set to launch in 2026, and the Yanbu initiative represents an expansion of its strategic footprint. SaSaudi Arabia's Vision 2030 agenda underpins these efforts, reflecting a national shift toward sustainable energy exports as a diversification of its economy. The kingdom recently approved agreements totalling over SAR 31 billion for renewable projects by ACWA‑led consortiums. Earlier this year, ACWA also entered a green‑hydrogen agreement with Germany's Securing Energy for Europe aimed at shipping 200,000 tonnes annually by 2030. Prince Abdulaziz bin Salman bin Abdulaziz Al Saud, Minister of Energy, highlighted during the workshop that the agreements establish a collaborative framework to assess market demand and feasibility for large‑scale renewable exports and corridor development. Industry observers argue these partnerships could redefine global green‑energy supply chains, reinforcing the kingdom as a leading exporter of clean energy solutions.
Al Etihad
2 days ago
- Business
- Al Etihad
Saudi Arabia signs agreements for green hydrogen, power exports to Europe
20 July 2025 23:17 RIYADH (WAM)Saudi Arabia's ACWA Power signed on Sunday, in Riyadh, agreements and memoranda of understanding (MoUs) with several international partners, aimed at creating a green hydrogen and renewable energy export value chain between Saudi Arabia and signing of these agreements and MoUs comes as part of the Kingdom's pioneering role in enhancing global logistics connectivity and its leadership in the India-Middle East-Europe Economic Corridor (IMEC) project, driven by its strategic geographical location that connects East and agreements and MoUs were signed during the Renewable Energy and Green Hydrogen Export Workshop, led by ACWA Power under the supervision of the Ministry of Energy. The event brought together high-level government representatives from Saudi Arabia, Greece, France, and Germany, alongside executives from global specialised companies and leading national workshop showcased the Kingdom's progress in diversifying its energy mix and promoting regional and international integration in clean energy—reinforcing its position as a reliable global supplier of energy and a key leader in the economic corridor connecting East and West. Moreover, a joint development agreement was concluded for collaboration on the first phase of the Yanbu Green Hydrogen Hub, which is planned to be ready for commercial operations by 2030.
The National
2 days ago
- Business
- The National
Acwa Power signs pacts to export renewable energy and green hydrogen to Europe
Saudi Arabia's Acwa Power has signed preliminary agreements to export renewable energy and green hydrogen to Europe under the India-Middle East-Europe Economic Corridor (IMEC) project. A multi-party deal was signed by Acwa Power with Italy's Edison, France's TotalEnergies Renewables, Zhero Europe from Netherlands and Germany's EnBW, Saudi Arabia's Ministry of Energy said on Sunday. "This deal establishes a collaborative framework to assess the market demand and feasibility of developing large-scale renewable energy projects dedicated for export in Saudi Arabia and the creation of a corridor to deliver generated electricity to Europe," it said. Acwa Power also signed individual pacts with companies involved in the development of electricity corridors, including technical consultant Cesi (Italy) and HVDC technology and cable providers Prysmian (Italy), GE Vernova, Siemens Energy (Germany) and Hitachi (France). "These agreements aim to develop advanced energy transmission corridors that enhance supply reliability and the efficiency of cross-border energy infrastructure," the ministry said. A joint development agreement was also signed with EnBW to collaborate on the first phase of the Yanbu Green Hydrogen Hub, which is planned to be ready for commercial operations by 2030. The hub seeks to be a fully integrated base with its own captive electricity generation from renewable sources, desalination plants to support its hydrogen electrolysis and ammonia conversion facilities, and an export terminal. The project leverages Saudi Arabia's potential to develop renewable energy at competitive rates and supply global industrial demand, the ministry said. The latest pacts, which were signed in Riyadh, are part of the IMEC, which was announced during the G20 summit in 2023. The project consists of an eastern route connecting India to the Gulf and a northern pathway connecting the Gulf to Europe. The cross-border, ship-to-rail transit corridors are expected to reduce shipping costs across the network and support trade in goods and services to, from and between the UAE, Saudi Arabia, India and Europe. The combined exports from these regions are projected to account for 44 per cent of global trade by 2030. Acwa Power, backed by Saudi Arabia's sovereign wealth fund, the Public Investment Fund, is one of the largest renewable energy developers in the Middle East. It currently has operations in 14 countries across the Middle East, Africa, and Central and South-east Asia. It is an investor in and operator of 101 power generation and water desalination projects in operation, construction and advanced development with an overall portfolio size of about $107.5 billion as of February. Last week, Saudi Arabia signed agreements worth more than 31 billion riyals ($8.3 billion) for seven renewable energy projects with an Acwa Power -led consortium to boost the kingdom's green energy capacity. In February, Acwa Power also signed a preliminary agreement with the German company Securing Energy for Europe (Sefe) to produce and supply green hydrogen to Europe. Under the pact, Acwa Power and Sefe will establish a hydrogen bridge between Saudi Arabia and Germany, with an initial target of supplying 200,000 tonnes of green hydrogen annually by 2030. Acwa Power will act as the lead developer, investor, and operator of green hydrogen and green ammonia production assets. Sefe will be a co-investor and the primary off-taker to market the green hydrogen to its German and European customers, the companies said at the time. The Saudi company is also a partner in the $5 billion Neom Green Hydrogen project, the world's largest, which is expected to be completed next year. The other venture partners are Neom and the US-based Air Products, which has secured an off-take agreement for all the green ammonia produced at the site.
Saudi Gazette
2 days ago
- Business
- Saudi Gazette
Saudi Arabia launches green hydrogen export value chain to Europe
Saudi Gazette report RIYADH — Saudi Arabia has launched a strategic value chain to export green hydrogen and renewable energy to Europe, marking a major step in its efforts to become a global clean energy hub. The move was formalized on Sunday as ACWA Power signed a series of agreements and memoranda of understanding (MoUs) with leading international partners during a high-level workshop in Riyadh. Held under the supervision of the Ministry of Energy and attended by Minister of Energy Prince Abdulaziz bin Salman, the Renewable Energy and Green Hydrogen Export Workshop brought together top officials from Saudi Arabia, Greece, France, and Germany, as well as executives from global energy firms and national institutions. The agreements aim to establish a robust framework for developing large-scale renewable energy projects in the Kingdom dedicated to export, and to create transmission corridors linking Saudi Arabia and Europe. The initiative is also part of the Kingdom's leading role in the India-Middle East-Europe Economic Corridor (IMEC), reinforcing its strategic position connecting East and West.A multi-party MoU was signed between ACWA Power and major European firms, including Edison S.p.A. (Italy), TotalEnergies Renewables SAS (France), Zhero Europe B.V. (Netherlands), and EnBW (Germany), to assess market demand and technical feasibility for electricity MoUs were signed with HVDC cable and transmission specialists such as CESI, Prysmian, GE Vernova, Siemens Energy, and Hitachi to support infrastructure development across borders.A Joint Development Agreement was also concluded with Germany's EnBW to collaborate on the Yanbu Green Hydrogen Hub, which is set to begin operations in 2030. The project will be a fully integrated complex with renewable energy generation, desalination, electrolysis, ammonia conversion, and a dedicated export terminal.
News18
5 days ago
- Business
- News18
Atmanirbhar In Space: How Modi Is Aligning India For Geostrategic Gains
Last Updated: PM Modi's vision of 'Atmanirbhar Bharat' is now profoundly shaping its trajectory in the space sector, transforming it into a critical pillar of national power & strategic autonomy The Indian Space Congress 2025 is in full session in Delhi. The meeting is lined with bureaucrats, decision-makers, policy personnel and of course, private players in the space sector looking to make a difference and boost India's space sector. And there is one theme that plays common through it all, 'Atmanirbharta'. PM Modi's vision of 'Atmanirbhar Bharat' is now profoundly shaping its trajectory in the space sector, transforming it into a critical pillar of national power and strategic autonomy. This push is evident in a series of landmark initiatives, from the successful launch of private satellite constellations to ambitious long-term space exploration goals. In January this year, PM Modi hailed Pixxel's 'Firefly', India's first private satellite constellation, as a testament to India's growing strength in space innovation and a significant stride towards self-reliance, noting its capacity for high-resolution imagery. Concurrently, ISRO's successful deployment of the indigenous EOS-08 Advanced Earth Orbiting Satellite, designed for critical remote sensing applications like ocean surface wind, soil moisture, and flood detection, underscores the nation's commitment to developing its own crucial space assets, despite initial launch challenges. These advancements serve as a testament to India's growing stature in the space sector. The government's 2020 space sector reforms and the Indian Space Policy, 2023, have been instrumental in fostering this indigenous growth by opening the sector to Non-Government Entities and increasing the FDI threshold to 100%. It has invigorated the private sector, allowing it to contribute significantly to India's space ambitions. Such an approach reduces India's reliance on foreign partners for critical space infrastructure and data, thereby enhancing its strategic autonomy in areas ranging from defence to climate monitoring. Looking ahead, the ambitious Space Vision 2047 targets, including the establishment of the Bharatiya Antariksh Station by 2035, an Indian Moon landing by 2040, and the development of a Next Generation Satellite Launch Vehicle by 2032, underscoring a long-term commitment to self-sufficiency in cutting-edge space capabilities. Bolstering Regional Initiatives: The IMEC Case The strategic implications of India's indigenous space capabilities extend directly to its role in key international infrastructure initiatives, most notably the India-Middle-East Europe Economic Corridor. Launched amid geopolitical complexities, IMEC requires a robust security and operational backbone, which space technologies can provide. Unlike China's Belt and Road Initiative and its Space Silk Road, which is solely led by Chinese assets, IMEC is a multi-partner endeavour involving nations with advanced space capabilities like India, the EU, and the US. It offers a unique opportunity for an international Space-IMEC Industrial Consortium, leveraging mature space technologies from commercial entities across all founding partners. India's advancements in space-based Command, Control, Communications, Computers, Intelligence, Surveillance, and Reconnaissance systems are crucial for IMEC's secure operationalisation. Furthermore, the interoperability of India's NAVIC with the EU's Galileo and the US's GPS provides resilient Positioning, Navigation, and Timing support along the corridor. This is particularly vital for IMEC members such as the UAE, Saudi Arabia, and Jordan, who can rely on NAVIC's comprehensive coverage of their regions, ensuring efficient land-mode trade. The innovative application of downstream space technologies, from Earth observation for optimising routes and mitigating risks to satellite communications for seamless coordination, will enhance the security and prosperity of IMEC's supply chains. The emphasis on cybersecurity and a high-speed data pipeline, linking India's IT services to West Asia and beyond, further solidifies the strategic relevance of India's space assets in making IMEC a secure and prosperous corridor. India As Global Space Powerhouse India's growing self-reliance in space is also transforming its position in the global space market, moving from a domestic focus to a Make in India for the World approach. The global-first strategies adopted by leading Indian space start-ups are a convincing sign of things to come. Bellatrix Aerospace has established offices in the US and plans to expand into Europe, securing international partnerships and sales pipelines. Similarly, Pixxel, Dhruva Space, and Agnikul Cosmos have an entirely global sales pipeline. India's space economy is projected to grow from $8.4 billion in 2023 to $44 billion by 2033 and the country aims to capture 10% of the global space economy by 2030. International forums like the India Space Congress 2025 serve as crucial 'matchmaking hubs" for institutional investors, highlighting India's expanding commercial opportunities. Discussions on extending Earth Observation solutions to the Global South through US-India roundtables underscore India's role as a collaborative partner for shared prosperity. While the emphasis remains on indigenous development, there is a strategic pivot towards technology transfer and international cooperation, embodying the ancient Indian philosophy of Vasudhaiva Kutumbakam, ensuring that India's space prowess not only serves its national interests but also contributes to global well-being and security. view comments First Published: News opinion Opinion | Atmanirbhar In Space: How Modi Is Aligning India For Geostrategic Gains Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
