Mitsui OSK Lines (MOL) has signed a memorandum of understanding (MoU) to develop a green corridor connecting Portugal to Northern Europe with Dutch-Portuguese company Madoqua Renewables Holding and various other partners.
Madoqua is a renewable energy developer and will be the project coordinator, focused on driving collaboration across the entire value chain. The MoU is said by MOL to reinforce its leadership in sustainable shipping innovation.
This green corridor project aims to establish a shipping route where low-emission shipping solutions are utilised and low carbon fuels are transported. 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. This initiative is part of ‘Build business models that enable net zero emissions’, one of the actions set forth in MOL’s Environmental Vision 2.2, and aligns with its goal of achieving net zero GHG emissions by 2050.
Madoqua is a Dutch-Portuguese developer of renewable energy and sustainable infrastructure projects. The company 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.
The value chain collaboration follows 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), in 2024. The MoU reinforces stakeholder commitment to advancing the EU climate goals and the global green fuels industry.
Image: Sines, site of Madoqua’s green fuels terminal (source: Madoqua)
