Saudi developer Acwa Power has signed a memorandum of understanding (MoU) with Thai NOC PTT and the state-owned Electricity Generating Authority of Thailand to collaborate on large-scale green hydrogen projects in Thailand.

The partners will conduct an investment feasibility study with an ambition to develop capacity to produce 225,000t/yr of green hydrogen—equivalent to 1.2mn t/yr of ammonia—at an estimated investment value of $7bn.

Thailand has set a target for carbon neutrality by 2050 and net-zero greenhouse gas (GHG) emissions by 2065. In line with a government focus on reducing CO₂ emissions from the energy sector cited in a strategy document submitted to the UN Framework Convention on Climate Change, PTT aims for carbon neutrality by 2040 and net zero by 2050, with an interim target to reduce GHG emissions from normal operations of 15pc by 2030.

Elsewhere in the region, Acwa has signed green hydrogen MoUs with South Korean companies Kepco and Posco. State oil company Saudi Aramco and Indonesian NOC Pertamina have also agreed to conduct a pre-feasibility study on the development of a blue hydrogen and ammonia value chain.

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Author: Polly Martin