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.
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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.
