ACWA Power company collaborates with Tunisia to develop green hydrogen project
(MENAFN) ACWA Power, a Saudi company, has inked a memorandum of cooperation with Tunisia to collaborate on a project aimed at producing green hydrogen, aligning with the Tunisian government's ambitions to expand renewable energy production. The initial phase of the project is projected to facilitate the production of approximately 200,000 tons of green hydrogen annually, with an estimated investment cost of around USD6.2 billion.
The signing ceremony took place with the Tunisian Minister of Industry, Energy, and Mines, Fatima Thabet, representing the Tunisian government, and Marco Arceli, CEO of ACWA Power, representing the company. Beyond the initial phase, the project will entail further development stages, aiming to bolster the concentrated capacity of renewable energy sources to reach 12 gigawatts and increase green hydrogen production to exceed 600,000 tons annually.
Tunisia's initiative to embark on this project is in line with its national strategy for green hydrogen and its derivatives. The country aims to attract both local and foreign investment to leverage its available potential, including skilled workforce, existing industrial and energy infrastructure, and strategic geographical location. Through this venture, Tunisia seeks to position itself as a hub for green hydrogen production, tapping into its resources to drive sustainable development and contribute to the global transition towards cleaner energy sources.
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