ACWA Power Signs MoU with Snam for Green Hydrogen Chain
Deal News | Jan 27, 2025 | Zawya
Saudi Arabia's ACWA Power has entered into a memorandum of understanding (MoU) with Italy's Snam, an international gas grid operator, to explore collaboration and joint investments to establish a green hydrogen supply chain from Saudi Arabia to Europe. This partnership aims to foster a reliable and economically viable green hydrogen supply through the SoutH2 Corridor, which stretches from Italy to central Europe, including countries like Austria and Germany. Additionally, the two companies are considering the development of an ammonia import terminal in Italy to facilitate green hydrogen delivery. This strategic agreement is part of ACWA Power's broader initiative in developing green hydrogen projects globally, including a mega facility in Saudi Arabia and projects in countries such as Uzbekistan, Egypt, Indonesia, and Tunisia.
Sectors
- Green Energy
- Utilities
- Logistics & Transportation
Geography
- Saudi Arabia – ACWA Power is based in Saudi Arabia and is developing the world's largest green hydrogen facility there.
- Italy – Snam, an Italian company, is party to the MoU, and the ammonia import terminal development is planned for Italy.
- Europe – The supply chain and SoutH2 Corridor are aimed at delivering green hydrogen to central Europe.
Industry
- Green Energy – The collaboration between ACWA Power and Snam is centered around developing a green hydrogen supply chain, which is a significant aspect of the green energy sector.
- Utilities – ACWA Power's operations in green hydrogen involve utility-scale projects, positioning the company within the utilities sector.
- Logistics & Transportation – The development of a supply chain and the SoutH2 Corridor for transporting green hydrogen involves significant logistics and transportation efforts.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| ACWA Power | Partner in MoU | Company | A Saudi Arabian company developing green hydrogen projects globally, including the world's largest utility-scale green hydrogen facility. |
| Snam | Partner in MoU | Company | Italy-based gas grid operator involved in exploring green hydrogen supply chain collaboration with ACWA Power. |