ACWA Power, the world’s largest private water desalination company and a trailblazer in the energy transition, has set the stage for a groundbreaking partnership.
This Saudi-listed giant has inked strategic agreements with six prominent Italian entities, signaling a visionary leap into the realms of green hydrogen, water desalination, and research and development. The stage was Milan, Italy, and the date, September 4th, 2023, when these transformative alliances were forged at the Saudi-Italian Investment Forum.
The six Italian partners joining forces with ACWA Power read like a who’s who of innovation and industry leadership. They encompass a diverse spectrum, from the small and medium enterprises federation, Confindustria, to energy juggernaut Eni, utility and waste management expert A2A, industrial solutions provider Industrie De Nora, specialty additives manufacturer Italmatch Chemicals, and classification and engineering solutions provider RINA.
This strategic collaboration is set against the backdrop of Saudi Arabia’s ambitious decarbonization program, one of the most significant of its kind globally. It also aligns with Italy’s reputation as a competitive engineering, manufacturing, and technology hub. Marco Arcelli, the CEO of ACWA Power, expressed his optimism about this venture, stating, “We look forward to bringing together Saudi Arabia, home to one of the largest decarbonization programs in the world, with Italy, one of the most competitive engineering, manufacturing, and technology suppliers globally.”
The primary goal of these partnerships is to facilitate the exchange of vital expertise, products, and equipment. By doing so, ACWA Power aims to create transformative opportunities for Italian and European enterprises in Saudi Arabia. The focus extends to driving sustainable progress in Italy and Europe by supplying green hydrogen and technical know-how.
The collaboration’s multifaceted nature is evident in the areas it spans:
- Confindustria and ACWA Power: Through their extensive network, Confindustria and its associates will assess the potential for green hydrogen and water desalination projects. This includes identifying suitable contractors and suppliers, conducting research and development, and establishing long-term supply and manufacturing partnerships.
- Eni and ACWA Power: These energy giants will explore cooperation in green hydrogen, renewables, and innovative sustainable technologies.
- A2A and ACWA Power: Together, they will evaluate the possibilities of green hydrogen projects, both in their mutual interest areas and in importing green hydrogen to Italy.
- RINA and ACWA Power: Their focus will be on investigating the potential use of green hydrogen and its derivatives in sea-borne shipping.
- Industrie De Nora: This expert in electrochemistry and sustainability technologies will enhance ACWA Power’s portfolio of water desalination projects and explore cooperation possibilities in operations and maintenance within green hydrogen applications.
- Italmatch Chemicals: ACWA Power and Italmatch Chemicals will delve into the potential localization of water treatment product production in Saudi Arabia, fostering long-term supply agreements and seizing opportunities in research and development.
This Saudi-Italian partnership at the Saudi-Italian Investment Forum holds the promise of transformative change. It not only reflects the growing significance of green hydrogen and water desalination in the global energy landscape but also exemplifies the power of collaboration to drive innovation and sustainability. With over 90 years of diplomatic relations and bilateral trade currently standing at around US$11 billion, this venture is poised to elevate Saudi-Italian cooperation to new heights.
