ACWA Power partners with Verbund for green hydrogen project

Given its positive environmental implications and capabilities to decarbonise entire industrial sectors, energy sector players around the globe are embarking on ambitious green hydrogen projects that will harness their full potential in the decades ahead. To firmly establish the co-operation between ACWA Power and VERBUND, both partners signed a memorandum of understanding (MoU) during the ongoing Abu Dhabi Sustainability Week (ADSW) 2023.

“[The] announcement is another illustration of our enduring commitment to bring ingenuity and entrepreneurship together to ensure power is generated reliably, responsibly, and sustainably at the global level. In collaboration with VERBUND, we are excited to jointly explore the possibilities to deliver green hydrogen to Central Europe with a primary focus on Austria on a consistent basis, which will not only support nations in their energy transition efforts, but also drive social development, industrial advancement, and economic growth across the region. VERBUND is a company that shares our vision for widespread renewables integration and long-term decarbonisation – and working with such a like-minded entity will be key to us unlocking the many possibilities that accompany our partnership,” said Mohammad Abunayyan, ACWA Power Chairman.

Produced by electrolysis of water using only renewable energy sources, green hydrogen is one of the most promising solutions for addressing climate change and accelerating carbon-free strategies, with zero carbon dioxide emissions making it the world’s cleanest, most efficient fuel.

“VERBUND is Austria’s leading energy company and one of the largest producers of hydroelectricity in Europe. With our portfolio of renewable energy production, transportation of electricity and gas, as well as energy trading and services, we cover the whole energy value chain. Green hydrogen is a logical next step,” added Michael Strugl, CEO, VERBUND.“We are very pleased and excited to announce the co-operation with ACWA Power to jointly explore green hydrogen projects for a sustainable, future-proof energy system.”

Although the collaboration between ACWA Power and VERBUND has only just begun, the two parties are well-positioned to drive project progression quickly, partly due to ACWA Power’s ongoing green hydrogen activities and involvement.

The NEOM Green Hydrogen Company (NGHC), an equal joint venture between ACWA Power, Air Products, and NEOM, is developing the world’s first at scale green hydrogen project. Scheduled for completion in 2026, the project will produce up to 600 tpd of carbon free green hydrogen in the form of green ammonia to be utilised as a cost-effective solution for transportation globally.

VERBUND’s technological capabilities and over 75 years of hydropower expertise, combined with ACWA Power’s green hydrogen knowledge, experience, and operations, will help ensure that the MoU’s objectives, terms, and aspirations are met moving forward.

For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.

Energy Global's Winter 2022 issue

The Winter 2022 issue of Energy Global hosts an array of technical articles focusing on wind, solar, energy storage, geothermal, and more. This issue also features a regional report on the Australian renewables sector.

Read the article online at: https://www.energyglobal.com/other-renewables/18012023/acwa-power-partners-with-verbund-for-green-hydrogen-project/