Saudi Arabia seeks to become key global green hydrogen producer: Minister

Prince Abdulaziz bin Salman, Minister of Energy

Saudi Arabia seeks to become a key global green hydrogen producer, Energy Minister Prince Abdulaziz bin Salman said in his speech at the Saudi Green Initiative Forum (SGI).

Prince Abdulaziz said that Saudi Arabia has signed a memorandum of understanding (MoU) to establish an economic corridor connecting India, the Middle East, and Europe in order to fulfill its ambitions of exporting power and green hydrogen, as well as providing clean energy in a reliable, extensive, and affordable manner.

Saudi Arabia, he added, has set up global partnerships to develop more hydrogen projects in the Kingdom and is also working to develop more hydrogen-powered solutions, including trains.

Furthermore, the Kingdom has more than doubled its renewable energy production capacity from 700 MW last year to over 2.2 GW, with more than 8 GW and 13 GW of renewable energy under development. It also plans to tender around 20 GW in 2024.

Prince Abdulaziz also stated that Saudi Arabia will be launching the geographical survey project (geological mapping) by 2024 with more than 1,200 surveying units, aligning with its commitment to accelerate the development pace of renewable energy projects.