Saudi Arabian utility developer ACWA Power has signed an MoU with Dubai-based biofuel company Neutral Fuels to power Red Sea Project’s transport network.

Under the MoU, the two companies will collaborate to use Neutral Fuels’ Net Zero Biofuel to power the Saudi Arabian tourism mega project’s vehicles.

An ACWA Power-led consortium was awarded the contract to design, build, operate and transfer the Red Sea Project’s sustainable utilities infrastructure in November 2020.

The Red Sea Project is to be the first of its size in the world to be fully powered by renewable and sustainable energy sources, including biofuel.

Karl W Feilder, CEO of Neutral Fuels, said: “The scale of the project is impressive but the real news here is the massive scale of the commitment that the Kingdom of Saudi Arabia is making to renewable energy.

Neutral Fuels has started setting up a biorefinery in Saudi Arabia to serve the project and will process used vegetable cooking oil to make the biofuel.

(Writing by Imogen Lillywhite; editing by Seban Scaria)

 imogen.lillywhite@refinitiv.com 

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