PTT Plc amplifies renewable energy drive with hydrogen fuel advancement

National energy titan PTT Plc is bolstering initiatives to harness additional renewable power sources and progress its hydrogen fuel enterprise, as part of a strategy for sustainable company growth.

Cherdchai Boonchoochauy, Senior Executive Vice President for Innovation and New Ventures, specified that PTT’s existing blueprint is to create 12 gigawatts of renewable electricity and restrict power generated from non-renewable fuels to eight gigawatts by 2030. However, these targets will undergo an upgrade to echo the firm’s commitment to renewable energy. A key part of this campaign is the development of new hydrogen fuel ventures.

Without giving precise information on the updated renewable power goal, Cherdchai only indicated that the target will escalate. He said…

“We are drafting a strategy for renewable energy development, which will be finalised following approval from the PTT board in August.”

These initiatives are projected to enable PTT to achieve its carbon neutrality milestone- maintaining equilibrium between carbon dioxide emissions and absorption- by 2040.

Furthermore, the corporation aims to accomplish a net-zero goal, attaining a balance between greenhouse gas emissions and absorption, by 2050.

PTT is progressing its hydrogen fuel development in collaboration with the National Electricity Generating Authority of Thailand and ACWA Power, a renewable energy company based in Saudi Arabia.

Under a memorandum of understanding signed last year, the consortium is dedicated to ensuring the feasibility of producing this fuel, reported Bangkok Post.

In the preceding month of April, PTT declared its plans to invest US$7 billion in this venture, which will concentrate on green hydrogen.

The creation of green hydrogen demands that electricity, generated from renewable sources, be used to break water molecules into hydrogen and oxygen.

The chief executive of PTT, Auttapol Rerkpiboon, revealed that the feasibility study for this project has already begun, and the firm aims to reach a final decision by the year’s end.

In the past year, PTT collaborated with Bangkok Industrial Gas Co, Toyota Motor Thailand and Toyota Daihatsu Engineering and Manufacturing Co to introduce a prototype of the country’s initial hydrogen fueling station aimed to serve eco-friendly vehicles.

Currently, the consortium is examining the establishment, which services limousines carrying passengers between U-Tapao Airport and Pattaya, as well as surrounding areas.