ReNu Energy Limited and its wholly owned subsidiary, Countrywide Hydrogen Pty Ltd (Countrywide), are pleased to announce the signing of a Memorandum of Understanding (MoU) with Anantara Energy Holdings Pte Ltd (Anantara) for the development of a production facility for the supply of green hydrogen to Indonesia and, once local demand is met, to export to other countries in the Asia region and potentially Europe.
Under the terms of the MoU Anantara and Countrywide will jointly study the development of a green hydrogen production facility utilising solar PV renewable power in the Karimun Special Economic Zone (SEZ) in the Riau Archipelago.
The MoU outlines:
- Countrywide and Anatara’s intention to jointly conduct and fund a concept study and, subject to the results of the concept study, a feasibility study to establish a green hydrogen production facility in the Karimun SEZ.
- The planned concept and feasibility studies will cover an initial 10MW electrolyser producing approximately 1,650 tonnes of hydrogen per year.
- If supported by the feasibility study, Anantara will develop, fund, and operate at least 100 MWp of solar PV which will provide clean energy to the facility.
The facility is intended to supply green hydrogen to offtakers in Indonesia, as well as for export to overseas markets.
- Subject to a positive outcome of the studies, it is expected that the financial close for a green hydrogen production facility can occur in 2024 with green hydrogen production beginning in 2025.
Simon Bell, Director of Anantara Energy Holdings said: We have agreed to collaborate with Countrywide Hydrogen to jointly conduct and fund a concept study and a detailed techno-commercial feasibility study for the setup of a green hydrogen production facility, and the viability of investing in the development of commercial arrangements for clean hydrogen in Indonesia.
Countrywide Managing Director and ReNu Energy Executive Director Geoffrey Drucker said: Green hydrogen will play a major role in a future net-zero economy for Indonesia and Asia more broadly, creating emission-free power generation, transportation for mining, and industrial processes. We plan to meet the needs of a competitive market, and this production facility will continuously expand to reach a broader ASEAN market through an agreed energy export scheme.
We couldn’t be more excited to be working with Anantara to begin the development of green hydrogen into the region, and help Indonesia strive towards future net-zero emissions.
ReNu Energy Chairman Boyd White, who was representing ReNu Energy in Bali at the signing of the MoU said: Since acquiring Countrywide last February, the company has made significant progress advancing its portfolio of clean and renewable energy projects. This MoU for potential green hydrogen supply in Southeast Asia, together with our announcement last week of the term sheet with HESTA for the investment of up to $100 million in our green hydrogen projects, is a fantastic endorsement of Countrywide’s green hydrogen capabilities, and aligns with ReNu Energy’s aim of contributing to a low carbon future.”
The MoU was signed today in Bali, Indonesia, with representatives from all parties in attendance. The executed MOU is a non-binding strategic framework that is intended to be converted into definitive arrangements as the project progresses.