Malaysia’s First Large-Scale Green Hydrogen Project to Use Floating Solar Power
01.24.2024 By Tank Terminals - NEWS

January 24, 2024 [Offshore Energy]- Malaysian company Semarak Renewable Energy (RE) and China Hydropower (Malaysia), a subsidiary of PowerChina, have signed an agreement to develop Malaysia’s first large-scale green hydrogen production project using floating photovoltaic power generation.

 

The agreement is worth a total of MYR1.88 billion (approximately $398 million).

The project will be located in Perak and involves the development of green hydrogen production and storage through the deployment of floating photovoltaic power generation, contributing to the shift towards sustainable energy.

The main objectives include the design, procurement, and construction (EPC) of floating photovoltaic power generation and hydrogen production and storage units.

PowerChina stated that the company is leveraging its expertise in the field of new energy and is committed to accelerating the planning and construction of the project and actively supporting Semarak RE to become a developer of the green hydrogen energy industry in Malaysia.

According to a recent study conducted by the German-based management consultancy Roland Berger, by 2030, global hydrogen production will increase to 110 million metric tons (Mt) per year, and probably to 240 Mt by 2040.

The study estimates that the production will grow by an average of 2% per year until 2030, and around 12% of the total volume by 2030 will be green hydrogen, which will be produced in a climate-neutral way using renewable energies.

 

Pro Trial: Access 13,300 Tank Terminal and Production Facilities

13,300 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

Energy-Related Emissions Hit a Record High Last Year Despite Renewables Surge
03.02.2024 - NEWS
March 2, 2024 [Oil Price]- Despite a decline in fossil fuel use in developed economies, global en... Read More
Chinese Oil Product Demand Could Peak by 2025
03.02.2024 - NEWS
March 2, 2024 [Oil Price]- Demand for petroleum products in China could peak before next year, th... Read More
Cheap Spot Prices Boost China’s LNG Imports to Record High for February
03.02.2024 - NEWS
March 2, 2024 [Oil Price]- China imported in February a record volume of LNG for the month, as bu... Read More
Russia’s Rosneft Moves to Sell its German Refinery Assets
03.02.2024 - NEWS
March 2, 2024 [Oil Price]- Russia’s state-controlled oil giant Rosneft has launched a sales pro... Read More