Neutral Fuels has signed a Memorandum of Understanding (MoU) with ACWA Power for its regenerative tourism project on the Red Sea coast. The Dubai-based biofuel company is set to supply its net zero fuel for the project’s entire transport system. The Red Sea Project – which is predicted to open its doors at the end of 2022 – will be a global first as a tourism hub of its scale powered exclusively by renewable and sustainable energy.
ACWA – a Saudi energy developer, investor and operator, won the rights to build, operate and transfer the Red Sea Project’s sustainable utilities infrastructure in November 2020. According to Paddy Padmanathan, President and CEO of ACWA Power, the project is anticipated to prevent around 500,000 tonnes of CO2 emissions every year through its use of renewable energy.
In a statement, Karl W Feilder, CEO of Neutral Fuels said: “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. I hope The Red Sea Project proves to be an inspiration for other companies to follow suit.”
Neutral Fuels has begun setting up a biorefinery in Saudi Arabia to serve the project – using locally-sourced used vegetable cooking oil. The biofuel company harnesses this used cooking oil to create its sustainable fuel alternative that is compliant in diesel engines, and has also recently partnered with Uniper Energy in Dubai to provide maritime biofuel for large tankers and containers, as well as smaller feeder and short sea vessels. The company has also implemented a fully traceable, used oil collection system – allowing for the oil’s supply chain to be entirely transparent.
The Red Sea Project’s development comes in line with the Saudi region’s greater move away from its historic economic dependence on oil, and joins the likes of other mega-city projects in the region such as Neom and Amaala. All of the planned projects will look to boost tourism and stimulate development while adhering to a green agenda.
