ACWA Power to embark on USD-7bn green hydrogen project in Thailand
Hydrogen tanks. Source: US Office of Energy Efficiency & Renewable Energy
November 24 (Renewables Now) - Saudi Arabia's ACWA Power (TADAWUL:2082) has inked a pact for a USD-7-billion (EUR 6.7bn) project set to create a huge complex that will produce green hydrogen and its derivatives in Thailand and potentially export to other countries.
The Saudi investor in water and power plants has signed a Memorandum of Understanding (MoU) with national energy group PTT Public Company Limited (PTT) and state-owned electricity enterprise Electricity Generating Authority of Thailand (EGAT).
ACWA Power’s proposal envisages the construction of facilities with the capacity to produce 225,000 tonnes of green hydrogen annually, equal to around 1.2 million tonnes of green ammonia. The output is planned to be used for local consumption, while some of it will be exported to foreign markets.
The partners will now proceed with a feasibility study for the project and work to devise a comprehensive plan for the production process.
The project will support Thailand’s goal to become carbon neutral by 2050 and achieve net zero emissions by 2065.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.