MOL, Madoqua, and partners to develop Portugal-Northern Europe green corridor
Mitsui O.S.K. Lines, Ltd. (MOL) has signed a Memorandum of
Understanding (MoU) with Madoqua Renewables Holding Lda (Madoqua) and other
global leaders to develop a green corridor connecting Portugal to Northern
Europe.
Madoqua is a renewable energy developer and will be the project
coordinator, focused on driving collaboration across the entire value chain. The
company is developing large-scale green hydrogen projects in Portugal to produce
green ammonia, e-methanol, and 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.
This Green Corridor project aims to establish a shipping route where
low-emission shipping solutions are utilised and low carbon fuels are
transported.
Global industry leaders from Europe, Asia and North America have come
together to support the development of this Green Corridor. The collaboration
includes diverse sections of the energy transition value chain, including
financial partners, terminal operators, academic and policy institutions,
industrial corporates committed to decarbonisation, green fuel producers and
alternative fuel off-takers.
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 decarbonise the maritime transport sector. In collaboration with other
stakeholders, MOL will provide strategic insights into logistical and
operational requirements for green fuels, helping shape the future of green
corridors.
The value chain collaboration follows important agreements to develop this
Green Corridor signed between Germany’s North Rhine-Westphalia and Portuguese
governments, and between Madoqua and the ports of Sines (APS), Rotterdam (POR)
and Duisburg (Duisport), on 4 and 5 November 2024, respectively.
Late last year, MOL signed a comprehensive MoU with the Maritime and Port
Authority of Singapore (MPA) to deepen cooperation in the fields of
decarbonisation, digitalisation, and human resources development.
