ACWA Power and South Korean power utility KEPCO have agreed to explore the development of hydrogen & ammonia production projects. Located in the Middle East (and other “agreed geographies”), the production plants will help decarbonise KEPCO’s power plants in South Korea. KEPCO has set itself a utilisation target of 5-10 million tonnes of ammonia fuel for power generation by 2030. This is ACWA’s second MoU with a South Korean organisation this year: in August they agreed to cooperate with steelmaker POSCO on hydrogen and ammonia projects, helping POSCO realise its renewable hydrogen production target for 2030.
Industrial Development Corporation of South Africa (IDC)
ACWA has signed a similar agreement with the IDC, a government-owned development finance body in South Africa. The pair will explore production of hydrogen & its derivatives in South Africa, with a potential $10 billion pipeline of projects to be developed.
South Africa has a net zero target for 2050 and plans to become a significant producer and exporter of green hydrogen and its derivatives. Accordingly, the government has mandated the IDC to lead the development and commercialisation of the green hydrogen economy. The IDC, in partnership with the Green Hydrogen Panel, is in the process of finalising the South African Green Hydrogen Commercialisation Strategy (GHCS).Role of the IDC in South Africa, from ACWA Power’s official press release, 20 Oct 2022
IDC is currently supporting several “catalytic” hydrogen & ammonia projects in South Africa, some of which we explored after the launch of the country’s Hydrogen Society Roadmap this February.