Pertamina Power Indonesia (Pertamina NRE), Keppel Infrastructure, through Keppel New Energy Pte. Ltd., and Chevron Corporation (NYSE:CVX), through Chevron New Energies International Pte. Ltd. (Chevron New Energies), have signed a Joint Study Agreement (JSA) to explore the development of selected green hydrogen and green ammonia projects using renewable energy located primarily in Sumatera, Indonesia.
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From Left: Director of Chevron New Energies International, Pte. Ltd., Andrew S. Mingst; CEO of Pertamina NRE, Dannif Danusaputro; Director of Keppel New Energy Pte., Ltd., Chua Yong Hwee. (Photo: Business Wire)
The signing of the JSA took place at the Business 20 (B20) Investment Forum held in conjunction with the B20 Summit in Bali. B20 is an official G20 engagement group that represents the global business community. Signing the JSA were CEO of Pertamina NRE, Dannif Danusaputro; Director of Keppel New Energy Pte., Ltd., Chua Yong Hwee, and Director of Chevron New Energies International, Pte. Ltd., Andrew S. Mingst. The signing was witnessed by the Coordinating Minister for Maritime Affairs and Investment, Luhut Pandjaitan; Minister of Investment of Indonesia & Head of BKPM, Bahlil Lahadalia; President Director & CEO, PT Pertamina (Persero), Nicke Widyawati; and Chief Executive Officer, Keppel Infrastructure, Cindy Lim.
The JSA intends to explore the feasibility of developing a green hydrogen facility, with a production capacity of at least 40,000 tonnes per annum, powered by 250-400 megawatts of geothermal energy in the initial phase. The hydrogen production facility could have the potential to scale up to 80,000-160,000 tonnes per annum, depending on the availability of geothermal energy as well as market demands.
The JSA aims to draw on the complementary strengths of Pertamina, the largest energy company in Indonesia; Keppel Infrastructure, a leading Singapore-based energy infrastructure solutions provider with a strong track record of developing and operating large scale energy and environmental infrastructure projects; and Chevron , a multinational energy corporation committed to providing affordable, reliable, ever-cleaner energy.
According to an International Energy Agency report, Indonesia, the world’s fourth most populous country, has a viable path to reaching its target of net zero emissions by 2060.1 Hydrogen and ammonia are expected to be important lower carbon fuels as part of this roadmap. Ammonia can also be used to transport hydrogen and potentially be used to replace bunker fuels as a lower carbon solution in the global maritime industry.
Indonesia accounts for approximately 40 percent of global geothermal resources, providing opportunities to utilize geothermal energy as a reliable and stable energy source to produce green ammonia or hydrogen.
Dannif Danusaputro, CEO of Pertamina NRE, said, “The development of green hydrogen and green ammonia holds a significant role in Indonesia’s Net Zero Emissions roadmap. And with its potential, we believe that Indonesia will also play a key role in green hydrogen production in Asia. We are very excited with this strategic collaboration as we know that Keppel and Chevron are reputable companies and have the same vision in energy transition as we do.”
Ms. Cindy Lim, CEO of Keppel Infrastructure, said, “Indonesia is a country with vast resources and enormous potential for renewable and low carbon energy. …