Saudi electricity producer and water desalination company ACWA Power Co (TADAWUL:2082) has entered into partnership agreements on green hydrogen, water desalination and research and development (R&D) initiatives with six Italian companies.
“The collaboration between ACWA Power and our Italian counterparties will enable the exchange of crucial expertise, products and equipment,” CEO Marco Arcelli said in a statement after the Saudi-Italian Investment Forum in Milan.
The Saudi firm has signed strategic agreements with Italy’s main business federation Confindustria, oil and gas major Eni SpA (BIT:ENI), multi-utility A2A SpA (BIT:A2A), industrial solutions provider Industrie de Nora SpA (BIT:DNR), Italmatch Chemicals and industry testing, certification and training services firm RINA.
ACWA Power and Confindustria will explore the possibility of developing hydrogen and water desalination projects, including the identification of suitable contractors and suppliers, R&D and long-term supply and manufacturing partnerships.
With Eni, the Saudi firm will consider partnership in green hydrogen, renewables and R&D in innovative, sustainable technologies, while with A2A it will assess the potential for green hydrogen projects in their areas of mutual interest as well as green hydrogen imports in Italy. The focus of the cooperation with RINA will be on green hydrogen derivatives in sea-borne shipping.
The future fellowship with the other two companies will be more focused on water treatment. Industrie De Nora is expected to share its expertise in electrochemistry and sustainability technologies to enhance ACWA Power’s portfolio of water desalination projects, among other initiatives, while Italmatch Chemicals and ACWA Power will consider the possibility of localisation in Saudi Arabia of the production of water treatment products with long term supply agreements.
Image courtesy: ACWA Power