Malaysia's largest green hydrogen project to begin construction this year after closing $400m in finance
Semarak Renewable Energy has commissioned PowerChina to build a 60MW facility powered by floating solar
Malaysia’s largest green hydrogen project so far, a 60MW plant in the state of Perak powered by floating solar, has secured a 1.88bn-ringgit ($393.6m) from private investors. The deal was facilitated by Singaporean investment firm Capitale Ventures with Chalfouh LLC as advisory.
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The project’s developer, Semarak Renewable Energy, had earlier this year signed a contract worth the same amount with Chinese state-owned construction firm PowerChina for design, engineering, procurement and construction of the hydrogen production and storage assets, as well as the upstream floating photovoltaics.
PowerChina is due to break ground on the project in the final quarter of this year.
Front-end engineering and design on H2biscus — a 150,000 tonnes-a-year project developed by Korean companies Samsung Engineering, Lotte Chemical, and Korea National Oil Corporation, as well as Malaysia’s SEDC Energy — is currently under way, with a final investment decision (FID) and the start of construction due at the end of this year.
SEDC Energy is also in the consortium for H2ornbill — a 90,000 tonnes-a-year green hydrogen project reportedly likely to reach FID in 2025 — with Japanese firms Eneos and Sumitomo.