Saudi-listed Acwa said the government of Saudi Arabia has granted it the exclusive right to export green hydrogen and its derivatives produced in the country to global markets.

The derivatives include green ammonia, green methanol, green methane, and fuels produced using green hydrogen, the company said in a statement to the Saudi stock exchange. 

The approval also empowers ACWA to develop projects to generate, transmit, and export electricity from renewable energy sources to European and Arab markets.
 
In February, ACWA Power said it expected the Front-End Engineering Design (FEED) for the green hydrogen and ammonia production plant in Yanbu to be completed by mid-2026.

The green hydrogen hub, backed by the German energy company EnBW, is scheduled to commence commercial operations in 2030.

In September 2025, NEOM Green Hydrogen Company (NGHC) said construction on the green hydrogen project had reached more than 80 percent at the start of the first quarter of 2025.

An equal joint venture between ACWA Power, Air Products, and NEOM, NGHC’s world-scale plant in Oxagon will integrate up to 4 gigawatts (GW) of solar and wind energy to produce up to 600 tonnes per day of carbon-free in 2027.

In May 2023, NGHC achieved a financial close of $8.4 billion, supported by a $6.1 billion non-recourse loan from 23 local, regional, and international banks and financial institutions.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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