Samsung Engineering inks MoU to supply hydro-based renewable power to H2biscus project in Sarawak
08 Sep 2022
Korean construction and project management company Samsung Engineering Co Ltd, together with SEDC Energy, Sarawak Energy Bhd, Lotte Chemical and Posco Holdings, signed a memorandum of understanding (MoU) to study the potential of supplying at least 900 megawatts (MW) of hydro-based renewable power for the H2biscus project in Sarawak, Malaysia.
Today’s MoU builds upon the earlier MoU signed between Samsung Engineering, Lotte Chemical, and Posco Holdings with SEDC Energy for the H2biscus project earlier this year.
SEDC Energy is a wholly owned subsidiary of Sarawak Economic Development Corporation.
Samsung Engineering chief financial officer and executive vice president Ju-Seong Cheong said the company expects the signing of this MoU for renewable power supply will be an important milestone in the Sarawak H2biscus project.
“We are confident that we will provide a successful project through our existing robust local network.
“Samsung Engineering will contribute to the achievement of the Korean carbon neutrality goal and vitalisation of the hydrogen economy, and strengthen our status as a ‘Green Solution Provider’ through strategic alliances and technology acquisition in the field,” he said in a statement today.
Under the MoU signed today, the five companies will jointly study the power supply capacity and facilities such as substations and transmission infrastructure required to supply the project.
In addition, the completion of the H2biscus project feasibility study is anticipated this year, and the goal of commercial production is set by the end of the year 2027.
Samsung Engineering said the H2biscus project is expected to contribute significantly to achieving the Korean carbon neutrality goal and the vitalisation of the hydrogen economy.
Of the products produced in this project, all blue and green ammonia and blue methanol, except for a portion of green hydrogen used locally in Sarawak, will be imported to Korea and used by South Korean companies.
Samsung Engineering, Lotte Chemical, and Posco Holdings plan to take the lead in introducing clean hydrogen in South Korea by developing overseas clean hydrogen projects in cooperation with major overseas clients.
Meanwhile, Samsung Engineering will further strengthen its strategic partnership with the Malaysian state of Sarawak by discussing business development and local economic cooperation plans in earnest with the visit of the Premier of Sarawak Datuk Lim Juay Jin, SEDC chairman Tan Sri Datuk Amar Aziz Husain and Sarawak Energy Bhd group chief executive Sharbini Suhaili.
Further, Samsung Engineering is currently successfully carrying out the Sarawak Methanol project and is expanding its position as an optimal business development partner for Sarawak by winning the Shell OGP (Onshore Gas Plant for Rosmari Marjoram) project in July this year.