ACWA Power inks key renewable energy MoU for Saudi’s Red Sea project – MEP MiddleEast

  • Date: 03-Jun-2021
  • Source: MEP Middle East
  • Sector:Oil & Gas
  • Country:Saudi Arabia
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ACWA Power inks key renewable energy MoU for Saudi’s Red Sea project – MEP MiddleEast

Saudi developer, investor, and operator of power generation and desalinated water plants, ACWA Power, has inked a Memorandum of Understanding (MoU) with Neutral Fuels, the GCC's largest biofuel producer, for future collaboration on the supply of its Net Zero Biofuel™ for Saudi Arabia's most ambitious regenerative tourism project on the Red Sea coast.

The ACWA Power-led consortium was awarded The Red Sea Development Company's highest value contract to design, build, operate and transfer The Red Sea Project's sustainable utilities infrastructure in November 2020.

Once complete, the destination will become the first project of its scale in the world to be entirely powered by a range of renewable and sustainable energy sources, including biofuel, the ideal alternative energy source. As part of the MOU agreement with ACWA Power, Neutral Fuels biofuel is set to fuel the site's entire transportation network.

Commenting on the contract, the CEO of Neutral Fuels, Karl W Feilder, said: “The scale of the project is impressive but the real news here is the massive scale of the commitment that the Kingdom of Saudi Arabia is making to renewable energy. They're not just minimising harm, they are actively reducing their dependence on fossil fuel and enhancing the environment as they