ACWA Power, Dutch Group Sign MoU to Explore Hydrogen Export

ACWA Power has signed a memorandum of understanding (MoU) with Zenith Energy Terminals, GasLog, and the Port of Amsterdam to explore the possibility of implementing a green hydrogen export corridor between ACWA’s hydrogen production sites and the Port of Amsterdam.

“As a mover in green hydrogen, ACWA Power is not just unlocking the potential of green hydrogen, but we are also exporting our expertise and commitment to a global audience,” said Marco Arcelli, CEO of ACWA Power. “Our collaboration with GasLog, Zenith Energy Terminals, and Port of Amsterdam signifies our dedication to clean energy on an international stage.”

ACWA Power will draw hydrogen from several of its international production sites, and a portion of the green hydrogen produced at these sites will be allocated for export to the European market.

The MoU was signed during the Saudi-EU Investment Forum, which was hosted in Riyadh, Saudi Arabia on Oct. 23. This agreement builds upon a previous cooperation between Saudi Arabia and the Netherlands to enhance sectors such as clean hydrogen, marine transport technologies, standards and certifications, and the establishment of a supply chain connected to both countries.

As per the MoU, ACWA Power and the Dutch entities will conduct a feasibility study to create the green hydrogen trade corridor between ACWA production sites and the Port of Amsterdam. Depending on the outcomes of the feasibility study, stakeholders may engage in a joint development agreement (JDA) to define project roles and responsibilities. In addition, stakeholders will seek out potential offtake agreements in the vicinity of the port and inland.

“We believe green hydrogen will shape the world’s ability to address the global decarbonization challenge, but it will take a concerted and cross-border effort to realize its potential. The government-to-government agreement signed between the Netherlands and Saudi Arabia is a good example of such an effort and has laid the foundation for the MoU we sign today,” said Dorine Bosman, Chief Investment Officer, Port of Amsterdam. “With this MoU, the partners seek to make a significant contribution to the global energy transition, by 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.”

The partners will also investigate incentive opportunities that may increase the demand for green hydrogen and reduce overall cost. The Dutch government has previously agreed to dedicate €9 billion for the development of green hydrogen production and distribution until 2030, with a €300 million portion reserved for imports.

Zenith Energy Terminals will facilitate the importation and storage of liquid hydrogen at its liquid hydrogen terminal in the Port of Amsterdam. ACWA Power will have the option to regasify its liquid hydrogen with Zenith’s infrastructure, preparing it for delivery to HyNetwork, distribution within the Netherlands, and export to inland offtakers, including Airport Schiphol.

Zenith is partnering with GasLog to develop sea-bearing vessels capable of transporting liquid hydrogen from ACWA’s production sites to the Dutch port.