British alkaline fuel cell developer, AFC Energy, and Zahid Group company, Altaaqa, have reportedly signed a Memorandum of Understanding for supporting the transition of Saudi Arabia’s power generation industry towards zero emission solutions. The two companies will be deploying AFC Energy’s hydrogen fuel cell technology in the process, cite sources knowledgeable of the matter.
The deal strengthens Altaaqa’s and Zahid Group’s commitment to leading the way in a shift towards sustainable fuels. The commitment comprises being a leading participant in the development of the hydrogen economy and ecosystem of the Kingdom. Further, it also aligns Zahid Group’s tireless efforts with Saudi Arabia’s Vision 2030 objective of decreasing its dependence on fossil fuels.
According to reliable sources, the MoU follows shortly after the unveiling of the Green Middle East Initiative and the Saudi Green Initiative by His Royal Highness Crown Prince Muhammad Bin Salman Bin Abdulaziz Al Saud. These initiatives would be a significant contribution towards the achievement of global targets in the confrontation of climate change.
The Saudi Green Initiative targets a reduction of 60 per cent in the carbon emissions of the region.
It is to be noted that the MoU forms the basis of a long term-collaboration that will cover the region. The agreement aims at securing market leadership for safe and reliable hydrogen-to-power solutions for numerous applications and industry segments.
For the record, AFC Energy has a reputation for delivering scalable alkaline fuel cell systems for the provision of clean electricity for off grid and on grid applications. The technology is already being used for off-grid decentralized power systems and in electric vehicle chargers as part of a portfolio approach towards the decarbonization of electricity requirements.
Uninitiated, Altaaqa has two decades of experience in the generation of turnkey power and water solutions in Saudi Arabia and at the global level. The company is the owner and operator of one of the globally largest mobile diesel generator rental fleets that have an overall 2 GW capacity.