Photo from ACWA Power.

Saudi Arabia-based ACWA Power signed a memorandum of agreement with Thailand-based national integrated energy firm PTT Public Company, and the Electricity Generating Authority of Thailand to develop a hydrogen facility in the Southeast Asian country.

In a statement, ACWA Power said the parties to the MoU will collaborate on the establishment of large-scale green hydrogen and derivatives production facilities in Thailand that will be used for local consumption and export.

The facilities with an estimated investment value of $7b are expected to produce around 225,000 tonnes of hydrogen annually, equivalent to around 1.2 million tonnes of green ammonia per year.

Thailand is planning to produce green hydrogen as a new alternative energy source in line with its target to achieve carbon neutrality by 2050 and net zero emissions by 2065.