Utilities Middle East
ACWA Power signs biofuel supply deal
As part of the MoU agreement with ACWA Power, Neutral Fuels biofuel is set to fuel the site’s entire transportation network
ACWA Power has signed a Memorandum of Understanding (MoU) with Neutral Fuels, the GCC’s largest biofuel producer, 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.
The ACWA Power-led consortium was awarded The Red Sea Development Company’s highest value contract to design, build, operate and transfer The Red Sea Project’s sustainable utilities infrastructure in November 2020.
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 deal, Neutral Fuels biofuel is set to fuel the site’s entire transportation network.
“The scale of the project is impressive and will help in minimising harm, actively reducing dependence on fossil fuel and enhancing the environment by sustaining and regenerating it for years to come,” said Karl W Feilder, CEO of Neutral Fuels.
Feilder said that given The Red Sea Project’s commitment, other companies have no excuse for continuing to contribute to climate change.
“Net zero biofuel is a very easy and clean plug-in replacement for the fossil fuels that are causing so much trouble to the environment. Any transportation fleet can make the switch overnight.”