Acwa Power, a leading Saudi developer, investor and operator of power generation and desalinated water plants, has signed a MoU with Neutral Fuels, the largest biofuel producer in the GCC, 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.
A consortium led by Acwa Power has been awarded The Red Sea Development Company’s (TRSDC) highest value contract to design, build, operate and transfer the project’s sustainable utilities infrastructure in November last year. 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 agreement with Acwa Power, Neutral Fuels biofuel is set to fuel the site’s entire transportation network in a hugely significant moment in the story of climate change.
The scale of the project is impressive but the real news here is the massive scale of the commitment that Saudi Arabia is making to renewable energy.
The Red Sea Project is expected to prevent an estimated 500,000 tonnes of CO2 emissions each year by using renewable energy and has already surpassed significant construction milestones.