Saudi Arabia’s largest private sector power and water entity ACWA Power (ACWA) has committed to developing what will become the largest green hydrogen facility in Indonesia after signing an agreement with the country’s state-owned electricity provider PT Perusahaan Listrik Negara (PLN) and fertiliser producer PT Pupuk Indonesia.
Made on the sidelines of COP28, the deal aims to kickstart development of Garuda Hidrogen Hijau (GH2) – a project that will run on 600MW (megawatts) of solar and wind power to produce 150,000 tonnes of green ammonia per year.
The bidding process for the engineering, procurement and construction (EPC) of the project – which is estimated to cost upwards of $1 billion – is expected to start in the first quarter of 2024, with financial close planned for the end of 2025.
Commenting on the agreement, Marco Arcelli, CEO of ACWA Power, said, “We are honoured to deepen our relationships with the government and government entities of this vibrant, ambitious nation through this new green hydrogen project.”
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