ACWA Power, a foremost Saudi developer, investor, and operator of power generation and desalination plants, has signed a Memorandum of Understanding (MoU) with Neutral Fuels, the GCC's largest biofuel producer, for upcoming partnership on the supply of its Net Zero Biofuel for Saudi Arabia's most ambitious restorative tourism project on the Red Sea coast.

The ACWA Power-led partnership was granted the greatest value deal by The Red Sea Development Company to design, develop, handle, and transfer The Red Sea Project's self-sustaining services infrastructure in November 2020.

When completed, the location will become the world's first project of its magnitude to be fueled solely by renewable and sustainable energy sources, including biofuel, the perfect alternative energy supply. Neutral Fuels biofuel is scheduled to feed the site's complete transport system as part of the MOU deal with ACWA Power.

As per Karl W Feilder, CEO of Neutral Fuels, this is a watershed point in the tale of climate change. “The project's magnitude is amazing, however the true news and here's the huge scope of the Kingdom of Saudi Arabia's commitment to renewable energy.

“They are proactively lowering their reliance on fossil fuels and benefiting the environment as they assist in preserving and rebuilding this for decades to come.”

As per Feilder, given The Red Sea Project's commitment, other corporations have no justification to continue adding to climate change.

“Net-zero biofuel is a simple and clean plug-in solution also for fossil fuels that are wreaking havoc on the earth. Any transport fleet may take that step in a single day. “I hope The Red Sea Project acts as motivation for other businesses to emulate,” he stated.

Paddy Padmanathan, President and CEO of ACWA Power, commented on the MOU signing, saying, "As even the world attempts to meet the rising demand for affordable power and water, ACWA Power stays true to being at the frontline of the energy revolution and offering revolutionary solutions such as the early adoption of evolving energy solutions like biofuels, to deliver power responsibly."

“We are thrilled to be cooperating with Neutral Fuels, which allows us to intensify our willingness to support the Kingdom's aspirations to offer a tourism destination with a low environmental effect by providing zero-carbon emitting utility services.”

The Red Sea Project, which has already achieved important construction milestones, is intended to save an estimated 500,000 tonnes of CO2 emissions each year by utilizing renewable energy. The international airport and the first hotels are scheduled to open by the end of 2022, allowing the city to welcome its first visitors.

Neutral Fuels has commenced the construction of a bio-refinery in Saudi Arabia to support the project. The location will rapidly come to simulate a city, in keeping with Neutral Fuels' city-scale local/local/local business model, in which biofuel is produced in a local plant from locally used vegetable cooking oil to be used by local consumers.