Saudi Arabian power and water desalination company ACWA Power said today it has secured government approval granting it exclusive right to export green hydrogen and its derivatives produced in Saudi Arabia to international markets.

The approval also tasks ACWA with the development of projects for the production, transmission and export of renewable electricity to European and Arab markets.

The company said the mandate builds on its activities in renewables, desalination and green hydrogen, including its role in developing the NEOM Green Hydrogen project. The NEOM project, a joint venture between NEOM, Air Products and ACWA Power, was about 90% complete as of late March. It will comprise up to 4 GW of combined solar and wind power generation and 2.2 GW of electrolyser capacity.

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