Italy – ACWA Power, a Saudi-listed company, struck strategic agreements with six Italian partners at the Saudi-Italian Investment Forum in Milan to strengthen cooperation in the domains of green hydrogen, water desalination, and research and development.
The six Italian companies are the Confindustria Federation of Small, Medium and Large Enterprises, the major energy company Eni, the utility and waste management company A2A, the industrial solutions provider Industrie De Nora, the manufacturer of specialty additives Italmatch Chemicals, and the provider of engineering and classification solutions RINA.
Confindustria and its partners will evaluate with ACWA Power the potential for developments of green hydrogen and water desalination projects, including the identification of suitable contractors and suppliers, research and development (R&D), and long-term supply and manufacturing partnerships. Confindustria and its partners collectively represent 222 associations and more than 150,000 companies.
Eni and ACWA Power will look at ways to work together on green hydrogen, renewable energy, and R&D for cutting-edge, sustainable technology. A2A and ACWA Power will examine the prospects for green hydrogen imports into Italy as well as initiatives in their shared areas of interest. The possible use of green hydrogen and its derivatives in seaborne shipping will be looked into by RINA and ACWA Power.
In order to improve ACWA Power’s portfolio of water desalination projects, Industrie De Nora will contribute its knowledge in electrochemistry and sustainability technologies, and it will also look into potential partnerships for operations and maintenance in green hydrogen applications.
The possibility of localizing the manufacturing of water treatment products in Saudi Arabia with long-term supply agreements to its operations, as well as chances for R&D and knowledge exchange, will be investigated by Italmatch Chemicals and ACWA Power.
The Italian Ministry of Enterprises, Made in Italy, and the Saudi Arabian Ministry of Investment (MISA) together sponsor the Saudi-Italian Investment Forum. With more than 90 years of diplomatic ties, the two countries’ bilateral commerce is currently at over US$11 billion.