Saudi Arabia's Aramco invests in green energy as ACWA Power gains exclusivity in hydrogen exports

Aqua Power has been granted exclusive rights to export green hydrogen and its derivatives from Saudi Arabia, as part of the kingdom's shift toward becoming a major source of green energy. The agreements include the export of hydrogen, green ammonia, and green methanol, as well as the development of renewable energy projects and the production and transportation of electricity to European and Arab markets. The company aims to increase its green hydrogen production capacity to one million tons annually by 2030, with current investments reaching 223,000 tons per year. This initiative is part of Saudi Arabia's strategy to strengthen its position in the global hydrogen market.

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