BAKU, Azerbaijan, January 27. Saudi-listed ACWA Power, renowned as the world's largest private water desalination company and a pioneer in energy transition and green hydrogen, has signed a memorandum of understanding (MoU) with European energy infrastructure leader Snam to explore collaboration and joint investments aimed at building a reliable green hydrogen supply chain to Europe, Trend reports via Snam.
The MoU sets the stage for a partnership to deliver green hydrogen from Saudi Arabia to Europe, including the development of an ammonia import terminal in Italy. The terminal will play a crucial role in facilitating the delivery of green hydrogen through the SoutH2 Corridor, a 3,300-kilometer infrastructure project connecting Italy, Austria, and Germany, supporting Europe’s transition to net zero.
Snam, a major operator in natural gas transportation, storage, and regasification, is committed to creating a pan-European multi-molecule infrastructure to enhance energy security and accelerate decarbonization. Meanwhile, ACWA Power, as a leading developer, investor, and operator of green hydrogen and green ammonia production facilities in Saudi Arabia, brings extensive expertise to the table.
Marco Arcelli, CEO of ACWA Power, expressed enthusiasm about the collaboration: “We are excited to join forces with Snam to drive significant advancements in the green hydrogen sector. With power sector emissions already down 40% compared to 20 years ago, we now need to focus our collective efforts on new, low-carbon molecules to decarbonize our sectors. Bringing our expertise together will help accelerate this process.”
Echoing this sentiment, Stefano Venier, CEO of Snam, highlighted the importance of hydrogen in meeting the EU’s decarbonization goals: “The EU’s ambitious decarbonization targets need decisive action across all manufacturing sectors, utilizing all available technologies in a practical, efficient, and accelerated manner. Hydrogen plays a key role here, and we are glad to pursue development opportunities in this field through agreements like the one we signed with ACWA Power. The development of the ammonia import terminal is synergic with that of the SoutH2 Corridor.”
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