HDF Energy and Daewoo Engineering and Construction Co., Ltd. have joined forces to advance hydrogen-to-power (HyPower) projects across Asia. Daewoo, a leader in the construction industry with a global project footprint, and HDF Energy, a developer of large-scale hydrogen infrastructure and high-power fuel cells, signed a Memorandum of Understanding (MoU) to cooperate on HyPower initiatives.
The MoU aims to accelerate the decarbonization of the petrochemical sector in Asia and was signed on June 19, 2024, at the Indonesia International Hydrogen Summit (IIHS) in Jakarta. The event was attended by representatives from various ministries, state-owned enterprises, and private entities.
The industrial sector is currently the largest consumer of hydrogen, with only a small percentage sourced from low-carbon origins. In the Asia-Pacific (APAC) region, hydrogen consumption represents half of the global demand, underscoring significant opportunities for supporting the decarbonization of the industrial value chain. Promoting low-carbon hydrogen is crucial, and exploring its broader applications within the industry’s supply chain, especially in hydrogen-intensive sectors such as petrochemicals and refineries, is equally important.
HDF Energy, an Independent Power Producer (IPP) and hydrogen power plant expert, and Daewoo E&C, renowned for its extensive global experience in the energy and petrochemical sectors, are exploring new market opportunities and collaborating on implementing HyPower plants in Asia. HyPower plants are multi-megawatt facilities that produce low-carbon electricity on demand using hydrogen, a byproduct of industrial processes.
HDF’s goal to develop multi-megawatt hydrogen power plants in Asia aligns perfectly with Daewoo E&C’s vision of enhancing quality of life and creating valuable environments beyond traditional construction. Together, they will explore downstream sectors, leveraging hydrogen applications to contribute to industrial decarbonization efforts. This collaboration aims to pave the way for future hydrogen infrastructure projects.
The signing of this MoU strengthens HDF Energy’s strategic position in Asia. The company has already signed a series of MoUs, MoCs, and JDSAs with governments, utilities, and private entities in Indonesia, the Philippines, Vietnam, and Cambodia. Additionally, in May 2024, HDF launched its high-power fuel cell factory in Bordeaux, France, with plans to expand production capacity to 1 GW by 2030. Alongside the factory inauguration, HDF secured EU and French state funding to develop and industrialize fuel cells specifically for heavy maritime and rail mobility sectors.
The MoU was announced at the IIHS event and signed by Jun Oh Cho, Country Director of Daewoo Engineering and Construction Co., Ltd., and Mathieu Geze, Director for Asia at HDF Energy and President Director of PT HDF Energy Indonesia.
Mathieu Geze, HDF Energy Indonesia’s Director for Asia, stated:
“Our cooperation with Daewoo E&C marks a significant milestone in accelerating hydrogen applications within the petrochemical sector, particularly in hydrogen-to-power solutions. We highly acknowledge Daewoo E&C’s extensive global experience. This collaboration could pave the way for the development of HyPower projects across Asia.”
Jun Oh Cho, Director at Daewoo E&C, commented:
“With our extensive experience in delivering large-scale projects worldwide, Daewoo E&C views this collaboration as an opportunity to leverage our expertise in conjunction with HDF Energy’s innovative hydrogen-to-power technology, which generates competitive low-carbon electricity from unused hydrogen. This partnership aligns perfectly with our mission to develop a comprehensive clean energy value chain and will further strengthen our capabilities in this domain. We look forward to a successful partnership with HDF Energy that will not only enhance our expertise but also contribute significantly to the renewable energy landscape in Indonesia and globally.”