ACWA Power and SINOPEC forge hydrogen and ammonia ties

June 26, 2024, by Aida Čučuk

ACWA Power, a Saudi developer, investor and operator of power generation, water desalination and green hydrogen plants worldwide, has signed a memorandum of understanding (MoU) with China’s SINOPEC Guangzhou Engineering Co., Ltd. (GPEC) in relation to a potential collaboration in the production of green hydrogen and ammonia.

According to ACWA Power, the parties will develop opportunities in global green hydrogen and ammonia initiatives by establishing a mechanism to jointly explore projects worldwide and improve technology solutions.

ACWA Power said that “the signing signifies that the relationship between the two companies will become closer and enter a new stage of development, aiming to further improve the comprehensive, wide-ranging and multi-level cooperation on the basis of past friendly cooperation, and jointly seek new opportunities for future development.”

The MoU was signed on June 13 by Bart Boesmans, CTO of ACWA Power, and Han Weiguo, President of SINOPEC GPEC.

In related news, this June, ACWA Power entered an agreement with Japan’s ITOCHU Corporation to explore the codeveloping and offtaking of ammonia from ACWA Power’s green hydrogen project in Egypt, which is expected to have a capacity of 600,000 tonnes per year of green ammonia.

Furthermore, the company signed an MoU with the Tunisian government to explore the potential for a project that would produce up to 600,000 tonnes per year of green hydrogen in three phases, for export to Europe. The hydrogen is aimed to be exported through the South2 Corridor, connecting Tunisia to Italy, Austria and Germany.

The company is also part of the major NEOM green hydrogen project in Saudi Arabia. Other activities include green hydrogen projects in Uzbekistan and Indonesia.