ACWA Power, Austria-based electricity firm to develop green hydrogen

The green hydrogen to be generated will be used by Verbund.

ACWA Power signed a memorandum of understanding with Verbund, an Austria-based electricity firm, to explore the development of green hydrogen projects in the Middle East.

In a statement, ACWA Power said Verbund will be the off-taker of the generated green hydrogen which will be used in Central Europe with a primary focus on Austria.

The partnership will support the nations’ energy transition efforts and boost social and industrial development, said ACWA Power Chairman Mohammad Abunayyan.

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The company said the partnership is expected to progress quickly, partly due to the Abu Dhabi-based firm’s ongoing green hydrogen activities.

NEOM Green Hydrogen Company, an equal joint venture between ACWA Power, Air Products and NEOM, is developing the world’s first at-scale green hydrogen project which is expected to be developed in 2026.

The project will produce up to 600 tonnes of green hydrogen a day in the form of green ammonia which will be utilised for transportation.