Hydrogène de France (HDF Energy) announced that it has acquired a 70% majority stake in the US$200m NewGen green hydrogen production project in Trinidad, led by local company Kenesjay Green Ltd (KGL). KGL, the project developer, will retain the remaining 30% of the share capital of NewGen, which will be jointly owned by KGL and an investment vehicle that will allow for the inclusion of additional local investors.
When completed, the NewGen plant will be the world largest clean hydrogen-producing facility of its kind, using a combination of solar and energy efficiency-sourced power. It will generate carbon-free hydrogen to meet 20% of the hydrogen requirement for an existing large-scale ammonia plant in the petrochemical hub of Point Lisas, Trinidad. Once up and running, the project will save approximately 200 000 t/CO2 per year.