Australia-based ReNu Energy Ltd (ASX:RNE) has joined forces with a unit of German solar developer Ib vogt GmbH and Singaporean power producer Quantum Power Asia to assess the potential for green hydrogen production in Indonesia.
ReNu’s subsidiary Countrywide Hydrogen Pty Ltd and Anantara Energy Holdings Pte Ltd, the joint venture of its new partners, have signed a Memorandum of Understanding (MoU) to conduct concept and feasibility studies of an initial 10-MW electrolyser in the Karimun Special Economic Zone (SEZ) in the Riau Archipelago. The facility is expected to produce around 1,650 tonnes of hydrogen per year.
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Depending on the outcome of the studies, Anantra will develop and build a photovoltaic (PV) plant of at least 100-MWp to supply power for the production process. The capacity will be part of a larger 3.5-GW solar project that the JV is developing in the archipelago.
The feasibility studies will be jointly funded by ReNu and Anantra.
If realised, the project will aim to supply green hydrogen to off-takers in Indonesia and export to other Asian countries, and potentially Europe. If the results from the studies are positive, the partners will be able to achieve financial close on the hydrogen project in 2024 and launch production in 2025.