ACWA Power has formalised its partnerships with six Italian companies, including energy firm Eni, to further its efforts into green hydrogen and desalination.
The Saudi electric power generation company, a key player in the country’s energy transition, hope the move will lead to greater localization of Italian firms in the Kingdom and establish the foundation for a robust partnership in research and development, according to CEO Marco Arcelli.
He said: “We look forward to bringing together Saudi Arabia, home of one of the largest decarbonization programs in the world, with a rapidly expanding and diversifying economy, and Italy, one of the most competitive engineering, manufacturing, and technology suppliers globally.
“The collaboration between ACWA Power and our Italian counterparties will enable the exchange of crucial expertise, products, and equipment.”
Through the agreement, ACWA Power and Confindustria will evaluate the potential for green hydrogen and water desalination projects.
Their partnership with Eni will research and develop in innovative, sustainable technologies as well as examining collaboration opportunities in green hydrogen and renewables.
ACWA Power have also partnered with A2A, through which they will assess the potential for green hydrogen projects in areas of mutual interest, and RINA, with whom the possibility of utilising green hydrogen and its derivatives in shipping will be investigated.