In a groundbreaking move toward global clean energy collaboration, ACWA Power, the world’s largest private water desalination company and a leader in green hydrogen production, has signed a Memorandum of Understanding (MoU) with Zenith Energy Terminals, GasLog, and Port of Amsterdam. This strategic alliance, formalized during the Saudi-EU Investment Forum held in Riyadh, aims to explore the feasibility of a green hydrogen export corridor connecting ACWA Power’s global hydrogen production sites with the port of Amsterdam.
Building upon a previous agreement between Saudi Arabia and the Netherlands to enhance cooperation in clean hydrogen and marine transport technologies, this new collaboration represents a significant step in realizing a greener future. ACWA Power is a pioneer in the green hydrogen sector, actively developing projects worldwide, including the monumental US$8.5 billion NEOM Green Hydrogen Project in Saudi Arabia, the largest utility-scale commercial facility of its kind powered entirely by renewable energy.
Under the MoU, ACWA Power, Zenith Energy Terminals, and GasLog will conduct a detailed feasibility study to establish a trade corridor for liquefied green hydrogen between ACWA Power’s production sites and the port of Amsterdam. This study will pave the way for a potential Joint Development Agreement (JDA) to define roles and responsibilities, engaging prospective buyers in the vicinity of the port and its hinterland.
Highlighting the importance of paving the way for a more sustainable future, Marco Arcelli, CEO of ACWA Power, expressed, “This partnership marks not just a milestone but a significant leap into uncharted territory. ACWA Power, at the forefront of the green hydrogen revolution, isn’t just tapping into the possibilities of this future fuel. We are sharing our expertise and dedication with the world. Our alliance with GasLog, Zenith Energy Terminals, and Port of Amsterdam underscores our unwavering commitment to leading the charge for clean energy solutions on a global scale.”
Dorine Bosman, Chief Investment Officer at Port of Amsterdam, emphasized the significance of this collaboration, stating, “The NEOM Project underlines that ACWA Power is in the vanguard when it comes to the production of green hydrogen. With this MoU, the partners seek to make a significant contribution to the global energy transition, focusing on the development of liquid hydrogen corridors that can supply the demand in our port and will use the port of Amsterdam as a gateway to the European market.”
This initiative aligns with the Dutch government’s commitment to green hydrogen development, earmarking EUR9 billion for production and distribution until 2030. Zenith Energy Terminals, a key player in the project, is developing an open-access liquid hydrogen import facility in Amsterdam, offering ACWA Power and other producers access to Dutch and European hydrogen markets.
GasLog, a global leader in liquefied natural gas (LNG) shipping services, is collaborating with Zenith Energy Terminals to develop specialized vessels capable of transporting liquid hydrogen safely and efficiently from ACWA Power’s production sites to the port of Amsterdam.
This collaborative effort signifies a pivotal moment in the global energy transition, showcasing the commitment of leading companies and governments to drive the widespread adoption of green hydrogen, a key player in addressing the world’s decarbonization challenge