The Khyber Pakhtunkhwa planning and development department signed an agreement with a subsidiary of Kuwait Investment Authority (KIA) to establish green hydrogen plants in the province.
According to a statement made here, the EnerTech Holding Company’s factories will also be utilized to create ammonia for the fertiliser industry.
According to the statement, the EnerTech Holding Company is a wholly-owned subsidiary of the National Technology and Enterprise Company, which is a wholly-owned subsidiary of the Korea Investment Authority, the world’s oldest sovereign wealth fund.
According to the statement, EnerTech is developing the world’s largest (25GW) green hydrogen project ($30 billion) as part of a consortium of companies partnering with the Sultanate of Oman. The project will produce approximately 1.8 million tonnes of green hydrogen and up to 10 million tonnes of green ammonia annually.
Additionally, the Pedo signed memorandums of understanding with the Gul Ahmed Metro Group, a subsidiary of British International Investment, and InfraCo Asia, a commercially managed infrastructure development and investment company of the Private Infrastructure Development Group, to develop green hydrogen plants in the province.
According to the statement, InfraCo Asia, headquartered in Singapore, has invested in two 50MW wind energy projects in Pakistan, as well as a portfolio of over 115MW and 15MW hydro energy projects, as well as the commercial and industrial rooftop solar sectors.
The Sustainable Energy and Economic Development program, funded by the United Kingdom’s Foreign, Commonwealth and Development Office and implemented by Adams Smith International, assists the government in materializing those investments by identifying and removing policy impediments, facilitating meetings with potential investors, and providing technical assistance.
