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.
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.