ACWA Power has signed a Memorandum of Understanding (MoU) with Austrian electricity company Verbund to jointly explore the potential development of green hydrogen projects in the Middle East region.
The projects would to produce hydrogen to be used by Verbund as a renewable energy source in Central Europe with a primary focus on Austria.
ACWA Power chairman Mohammad Abunayyan said: “Today’s announcement is another illustration of our enduring commitment to bring ingenuity and entrepreneurship together to ensure power is generated reliably, responsibly and sustainably at the global level.
“In collaboration with Verbund, we are excited to explore the possibilities to deliver green hydrogen to Central Europe with a primary focus on Austria on a consistent basis, which will not only support nations in their energy transition efforts, but also drive social development, industrial advancement, and economic growth across the region.
“Verbund is a company that shares our vision for widespread renewables integration and long-term decarbonisation – and working with such a like-minded entity will be key to us unlocking the many possibilities that accompany our partnership.”