ACWA and PTT sign MoU

Saudi developer, investor, and operator of power generation, ACWA Power, and worldwide green hydrogen plant owner, PTT Public Company Limited (PTT) signed a landmark memorandum of understanding (MoU) along with Thailand’s national integrated energy company and Electricity Generating Authority of Thailand (EGAT). The MoU is to embark on projects focused on green hydrogen and its derivatives to meet Thailand’s energy demand and enable valuable export opportunities.

Thailand has pledged to achieve carbon neutrality by 2050 and net zero emissions by 2065 and intends to produce green hydrogen as a new alternative energy source in the years and decades ahead. ACWA Power, PTT, and EGAT will begin collaborating exclusively on a plan to establish large-scale, renewable-powered green hydrogen and derivatives production facilities.

Paddy Padmanathan, CEO and vice chairman of ACWA Power says: ‘We are excited at the prospect of supporting green hydrogen and derivatives exploration and advancement in Thailand…We look forward to collaborating with PTT and EGAT and laying the foundations for accomplishing the same as we bring ingenuity, innovation, and our collective resources and expertise together.’

Auttapol Rerkpiboon, CEO of PTT adds: ‘EGAT places importance on searching for new alternate energy sources to help Thailand achieve carbon neutrality by 2050, and net zero emissions by 2065, with emphasis on suitable clean energy to help reach the country’s environmental goals as well as enhance low-carbon circular economy at the national level.’