ACWA Power, a Saudi power generation company, has signed an agreement to develop a green hydrogen project of giga-scale in Indonesia.
According to a statement, the Public Investment Fund-backed company entered into a memorandum with Pupuk Indonesia, a chemical manufacturing firm, for the development of this project.
Pupuk Indonesia (PI), a state-owned company, is the biggest ammonia-taker in the region.
Bakir Pasaman, President of PI and Group CEO, and Andrea Lovato, Global Head for Green Hydrogen and Executive Vice President at ACWA Power signed the MoU.
The Vice Minister of State-Owned Enterprise of Indonesia Pahala Mansury along with Nicke Widyawati CEO of Pertamina were also present during the signing agreement.
ACWA Power announced last November that it would collaborate with Indonesia’s electricity provider to develop battery storage in order to support renewable energy facilities.
At the B20/G20 Summit, Bali, the firm signed an agreement with PT Perusahaan Listrik Negara. This coincided with the State Visit to Indonesia of the Kingdom’s Crown Prince Mohammed Bin Salman.
ACWA Power and PLN have agreed to cooperate on several areas of partnership. These include a project study for pump storage at a 600-800MW hydroelectricity plant; investigating the possibility for a 4GW battery storage system and developing a green hydrogen/ammonia facility powered by hydroelectricity.