Pestech partners French company to explore green hydrogen projects
24 May 2022
Pestech International Bhd has signed a memorandum of understanding (MoU) with Hydrogène De France SA (HDF Energy) to collaborate on green hydrogen production from hydro power plants in Cambodia and Malaysia.
Pestech said through the MoU today, the potential collaboration would address multi sectors decarbonation such as, among others, grids services and industrial application.
“Under the MoU, the parties shall co-operate jointly for the development works with respect to the projects in the region of Malaysia and Cambodia as an initial phase.
“Due to its pioneer role in hydrogen, HDF Energy will take the lead on the project development scopes and sizing, while Pestech will take the role of local market liaison, and coordination, in synergies with HDF Energy,” Pestech said in a filing with Bursa Malaysia today.
Pestech also said that it would be given the first right of refusal for the engineering, procurement, construction, and commissioning works subject to terms and conditions to be determined at a later stage on a project-by-project approach.
“The first right of refusal will depend on bankability criteria to be confirmed at a later stage by international and local lenders,” it added.