![]() ![]() ![]() The investment pledge represents a significant step forward in realizing the plan. The two companies, along with the state-owned Electricity Generating Authority of Thailand, signed a memorandum of understanding in November 2021 to proceed with the project. The plant will be built in Thailand and have a production capacity of 225,000 tons of hydrogen per year, equivalent to around 1.2 million tons of ammonia. The investment represents one of several different approaches PTT is taking to reduce emissions while remaining profitable. The joint venture aims to power electric vehicles in the ASEAN region and is part of PTT’s efforts to achieve net-zero emissions of carbon dioxide by 2050. PTT Group, Thailand’s state-owned oil and gas company, has pledged to invest $7 billion in green hydrogen production in partnership with Saudi Arabia’s leading renewable energy company, ACWA Power. ![]()
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