ACWA Power to develop Indonesia’s largest green hydrogen project
Saudi Arabia’s ACWA Power is set to develop what will be Indonesia’s largest green hydrogen project, after it signed a deal worth over $1bn with the island nation’s state-owned electricity provider, PT Perusahaan Listrik Negara, and fertilizer maker, PT Pupuk Indonesia.
ACWA – which invests in and operates power generation, water desalination, and green hydrogen plants worldwide – inked the agreement with its new partners on the sidelines of the COP28 climate summit in Dubai.
ACWA said that the Garuda Hidrogen Hijau (GH2) Project will run on 600 megawatts of solar and wind power – and produce 150,000 tonnes of green ammonia per year.
The company indicated that the bidding process for the engineering, procurement, and construction of the project will start in the first quarter of 2024, with financial close planned for the end of 2025.
ACWA noted that it has been growing its green hydrogen portfolio. It said that work is well underway on the NEOM Green Hydrogen Project in Saudi Arabia and that it broke ground last month on a project in Uzbekistan.
