ACWA Power, partners to study green hydrogen corridor to Amsterdam

ACWA Power Co (TADAWUL:2082) and several Dutch companies will partner to evaluate the viability of establishing a corridor to export liquified green hydrogen from the Saudi developer's production sites to the port of Amsterdam.

The partnership is backed by a memorandum of understanding that ACWA Power, the Port of Amsterdam, hydrogen terminal operator Zenith Energy Terminals and LNG shipping service provider GasLog signed during the Saudi-EU Investment Forum on Monday.

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Under the pact, the partners will carry out a detailed feasibility study and depending on its results, a joint development agreement could be signed to define duties and obligations. They will also interact with potential customers in the vicinity of the port and its hinterland.

Additionally, the companies will also explore viable incentive options to stimulate the demand for green hydrogen and enhance its cost-effectiveness.

Riyadh-based ACWA Power is behind the ambitious USD 8.5 billion Neom green hydrogen project that is currently under construction in northwestern Saudi Arabia and is expected to commence operations by the end of 2026 producing up to 600 tonnes per day of renewable hydrogen. Another green hydrogen project is being developed in Uzbekistan while more projects are being planned in other places.

The collaboration between ACWA Power and the Port of Amsterdam aims to meet the demand at the port, which aspires to establish itself as an energy hub and utilise the port as a gateway for exports to the European market.

If a trade corridor is established, the import and storage of liquid hydrogen will be enabled by Zenith's hydrogen terminal. Meanwhile, GasLog and Zenith are partnering to develop vessels capable of transporting liquid hydrogen from the production plants to the Netherlands.