Neutral Fuels enters the Saudi Arabian market

ACWA Power, a leading Saudi developer, investor and operator of power generation and desalinated water plants, has signed a Memorandum of Understanding (MoU) with Neutral Fuels, the GCC’s largest biofuel producer.
The ACWA 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 Nov 2020. As part of the MOU agreement with ACWA Power, Neutral Fuels biofuel is set to fuel the site’s entire transportation network.

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.

Karl W. Feilder, Founder and chairman of Neutral Fuels, said this was a hugely significant moment in the story of climate change. “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.”

Paddy Padmanathan, President & CEO of ACWA Power, said, “As the world seeks to satisfy the rising demand for affordable power and water, ACWA Power remains committed to being at the forefront of the energy transition and providing transformative solutions, including the early adoption of emerging energy solutions like biofuels, to deliver power responsibly.”

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