A Memorandum of Understanding was signed by Samsung Engineering, SEDC Energy, Sarawak Energy Berhad, LOTTE Chemical, and POSCO Holdings to investigate the possibility of providing the H2biscus project in Sarawak, Malaysia, with at least 900MW of hydro-based renewable energy.
This MoU expands upon the preceding MoU for the H2biscus project that was inked earlier this year by Samsung Engineering, LOTTE CHEMICAL, and POSCO Holdings.
Ju-Seong Cheong, the chief financial officer and executive vice president of Samsung Engineering, Tan Sri Datuk Amar Dr. Haji Aziz bin Husain, the CEO of SEDC Energy, Encik Robert Hardin, the CEO of Sarawak Energy Group Berhad, YBhg. Datu Haji Sharbini Suhaili, the CEO of LOTTE Chemical, Jin-Koo Hwang, and the senior executive vice president and head of the green materials and energy
The Right Honorable Datuk Patinggi (Dr.) Abang Haji Abdul Rahman Zohari bin Tun Abang Haji Openg, Premier of Sarawak, Datuk Lim Juay Jin, Malaysia’s Ambassador to Korea, and Park Il-jun, Korea’s Second Vice Minister for Industry and Energy, also attended the event.
According to the inked Memorandum of Understanding, the five firms will work together to examine the facilities, including substations and transmission infrastructure, and the power supply capacity needed to service the project. Additionally, the H2biscus project feasibility study is expected to be finished this year, and commercial production is planned to begin by the end of 2027.
The H2biscus project is anticipated to provide a significant contribution to the accomplishment of Korea’s carbon neutrality target and the growth of the hydrogen economy, should it be proved to be technically and commercially viable. All of the blue, green, and methanol that will be created as part of this project will be shipped into Korea and used by Korean businesses, with the exception of some green hydrogen that will be used locally in Sarawak.
In order to lead the introduction of clean hydrogen in Korea, Samsung Engineering, LOTTE Chemical, and POSCO Holdings want to create clean hydrogen projects abroad in collaboration with significant international clients.
“We anticipate that the signing of this Memorandum of Understanding for the supply of renewable energy will be a significant milestone in the Sarawak H2biscus project, and we are confident that we will provide a successful project through our existing robust local network,” said Samsung Engineering CFO and Executive Vice President Ju-Seong Cheong. Through strategic partnerships and the purchase of relevant technology, Samsung Engineering will support the development of the hydrogen economy and the accomplishment of Korea’s carbon neutrality objective, enhancing our position as a “Green Solution Provider.”