ACWA Power expands Indonesian portfolio with new green hydrogen project
Date
2/23/2023 7:57:13 AM
(MENAFN) ACWA Power, a Saudi Arabian power generation company backed by the Public Investment Fund, has signed a memorandum of understanding (MoU) with Pupuk Indonesia, a state-owned chemical manufacturing firm, to develop a new green hydrogen project in Indonesia. The project is part of ACWA Power's efforts to expand its portfolio in Indonesia, and comes after the company signed an MoU with PT Perusahaan Listrik Negara (PLN), Indonesia's state-owned electricity provider, last November to develop battery storage for renewable energy facilities and green hydrogen in the country.
Under the terms of the MoU with Pupuk Indonesia, ACWA Power will work with the largest off-taker of ammonia in the region to develop the project. The MoU was signed by Bakir Pasaman, the president and group CEO of Pupuk Indonesia, and Andrea Lovato, ACWA Power's executive vice president and global head of green hydrogen, in the presence of representatives from the Indonesian government and petroleum firm Pertamina.
ACWA Power's partnership with PLN includes a project study for a pump storage facility for a 600-800 MW hydroelectricity plant, the investigation of a 4 GW battery energy storage system, and the development of a green hydrogen/ammonia facility powered by hydroelectricity. The company has also signed a joint development agreement with Pertamina New & Renewable Energy to supply core utilities to the Tuban Grass Root Refinery and Petrochemical Project in Java, eastern Indonesia.
The development of renewable energy sources is a priority for Indonesia, with the country's National General Energy Plan targeting 23% of power to be generated from renewable energy sources by 2025. ACWA Power, which also develops renewable energy and water desalination projects, aims to provide reliable and responsible access to electricity and desalinated water to support the economic growth and social development of nations through the ingenuity and entrepreneurship of the private sector.
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