ACWA Power inks over $1B deal to develop green hydrogen project in Indonesia

An ACWA Power wind turbine

ACWA Power Co. is set to develop Indonesia’s largest green hydrogen facility at an estimated cost of more than $1 billion. 

The project will be developed in cooperation with PT Perusahaan Listrik Negara (PLN), Indonesia’s state-owned electricity provider and PT Pupuk Indonesia, a state-owned fertilizer and chemical producer. 

The Garuda Hidrogen Hijau (GH2) Project, which is expected to start commercial operations in 2026, will run on 600 MW of solar and wind power, producing 150,000 tonnes of green ammonia per year.

ACWA Power expects the bidding process for engineering procurement and construction (EPC) for the Garuda Hidrogen Hijau project to start in the first quarter of 2024, with financial close planned by the end of 2025. 

The signing of the deal came on the sidelines of the 28th United Nations Climate Change Conference (COP28) in Dubai.