Japan’s shipping major Mitsui O.S.K. Lines (MOL) has signed a memorandum of understanding (MOU) to develop a green corridor connecting Portugal to Northern Europe with Dutch-Portuguese developer of renewable energy and sustainable infrastructure projects Madoqua Renewables Holding Lda (Madoqua) and other global leaders.
Madoqua will be the project coordinator, focused on driving collaboration across the entire value chain.
This green corridor project aims to establish a shipping route where low-emission shipping solutions are utilized and low carbon fuels are transported.
Apart from MOL and Madoqua, the MOU was signed by global leaders from Europe, Asia and North America from diverse sections of the energy transition value chain.
This includes financial partners, terminal operators, academic and policy institutions, industrial corporates committed to decarbonization, green fuel producers and alternative fuel off-takers.
Specifically, it has been signed by Porto de Sines, Port of Rotterdam and Duisport, CIP, ING, Cargill, Norwegian Cruise Line, Hyperion, Proton Ventures, KBR, Siemens, and Horisont Energi amongst others.
As a shipping logistics partner, MOL will play a key role in enabling the transportation of green fuels and CO2, while promoting the use of zero-emission ships to decarbonize the maritime transport sector.
In collaboration with other stakeholders, MOL will provide strategic insights into logistical and operational requirements for green fuels.
Madoqua is developing large-scale green hydrogen projects in Portugal to produce green ammonia and e-methanol, as well as the Madoqua Green Fuels Terminal.
The facility will store, handle and bunker alternative fuels in the port of Sines, with open access and electrified using renewable energy.
