Mitsui O.S.K. Lines (MOL) has announced the signing of a memorandum of understanding (MoU) with Madoqua Renewables Holding Lda and other global industry leaders to develop a green corridor connecting Portugal to Northern Europe.
Madoqua, a renewable energy developer, will serve as the project coordinator, leading efforts to foster collaboration across the entire value chain.
The Green Corridor project aims to create a shipping route that utilizes low-emission solutions and facilitates the transport of low-carbon fuels.
A diverse group of global firms from Europe, Asia, and North America is supporting the development of this Green Corridor. The collaboration spans various sectors of the energy transition, including financial partners, terminal operators, academic and policy institutions, industrial companies committed to decarbonization, green fuel producers, and alternative fuel off-takers.
As the Shipping Logistics Partner, MOL will play a central role in transporting green fuels and CO2 while promoting the use of zero-emission vessels to decarbonize the maritime transport sector.
In partnership with other stakeholders, MOL will provide strategic insights into the logistical and operational needs of green fuels, helping to shape the future of green corridors. This initiative aligns with MOL’s “Environmental Vision 2.2,” which focuses on developing business models to achieve net-zero emissions, and supports its goal of reaching net-zero greenhouse gas emissions by 2050.
