Augustus Global Investment, a prominent German firm, has unveiled plans to invest a whopping $500 million in a green hydrogen plant in Indonesia’s Aceh province.
The prime objective of this endeavor is the construction of a cutting-edge green hydrogen plant, expected to commence next year. This plant aims to leverage renewable energy sources to produce an impressive annual output capacity of 35,000 metric tons of green hydrogen, marking a pivotal step towards achieving clean and eco-friendly energy solutions.
CEO Fadi Krikor shared the project’s timeline and details during a press conference in Jakarta, shedding light on the ambitious venture. Augustus Global Investment has inked a preliminary agreement with Indonesian state-owned enterprises, including PT Pupuk Indonesia and PT Pupuk Iskandar Muda, as well as state utility company PT Perusahaan Listrik Negara. These collaborations are pivotal for power supply and the establishment of a suitable construction site for the impending venture.
Krikor stated, “We expect construction to start next year in 2024, we expect to start production by 2026.” A notable highlight of this initiative is the plan to export the hydrogen produced from this endeavor to nations like Germany, Japan, and other Southeast Asian countries, exemplifying the global significance of this Indonesian green hydrogen plant.
The CEO of Pupuk Iskandar Muda, Budi Santoso Syarif, affirmed that the plant’s location would be within the industrial area owned by his company, solidifying the local support for this groundbreaking project.