UK-based clean projects investor developer PASH Global has agreed to set up a joint venture (JV) with renewables investor ERIH Holdings to develop green hydrogen and ammonia production projects totalling 5 GW.
The proposed capacity will be deployed in Italy, Spain, Turkey, Greece, Serbia and Colombia by 2030, PASH Global said on Wednesday. Under the plan, electricity from 10 GW of renewable power generation capacity, including wind, solar and geothermal plants, will be sourced to power the electrolysers.
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Each of the JV partners will hold a 50% stake in the new business. ERIH, which is acting as project coordinator, will keep ties with customers and system operators and take care of transporting the produced green hydrogen.
“Building the next-generation utility is the vision of the JV,” said Akin Gunduz, CEO of ERIH Holdings.
As a start, PASH Global and ERIH will work on two projects located in Turkey and Italy, where they will seek potential partners to develop commercial and technical concepts. The duo noted that the targeted projects are complex and will require extensive work in terms of approvals, design, construction and commissioning.
PASH Global is majority owned by Singaporean trading and logistics group Trafigura.
