Saudi Arabian renewables developer ACWA Power has signed a memorandum of understanding (MoU) to develop green hydrogen projects in Thailand.
Signed with Thai’s national energy company PTT Public Company and state-owned Electricity Generating Authority of Thailand (EGAT), the companies will collaborate to establish large-scale renewable-powered green hydrogen plants for local consumption and with the purpose of exporting it too.
Through the MoU the companies expect to produce 225,000 tonnes per year of green hydrogen, equivalent to 1.2 million tonnes of green ammonia.
The immediate focus will be to carry an investment feasibility study for proposed green hydrogen and derivatives projects in Thailand.
The Saudi-based developer continues to expand its commitment to green hydrogen after signing a joint development agreement in Oman in the first half of the year.
Auttapol Rerkpiboon, president and CEO of PTT Public Company, said: “The collaboration with international leading companies such as ACWA Power and EGAT to explore and study the opportunity to invest in green hydrogen is a significant milestone for PTT to promote Thailand’s low-carbon society along with improving the quality of life of Thai people, developing societies, communities, the environment, and strengthen Thailand’s economy to grow together sustainably.”
Earlier this month, ACWA Power entered the Indonesian market with its first floating solar PV projects with 60MW and 50MW of capacity respectively. The company also signed an MoU last week in Indonesia with state-owned power company PT Perusahaan Listrik Negara (PLN), covering the development of battery storage for renewable energy and green hydrogen production in the country.