PASH Global (PASH) and ERIH Holdings have formed a 50-50 joint venture to develop green hydrogen and ammonia projects totalling 5GW of electrolyser capacity.
The project will be powered by 10GW of renewable energy generation capacity such as solar, wind, and geothermal in Italy, Spain, Turkey, Greece, Serbia and Colombia by 2030 which will be entirely consumed for captive needs of round-the-clock power and intermittent energy for green hydrogen.
The next step is to work together with potential partners to develop commercial and technical concepts in the first two projects located in Turkey and Italy.
ERIH Holdings has been acting as the project coordinator, bringing all of the relevant parties together and organising partnerships between customers and the system operators that will transport the hydrogen to the customer’s premises.
Akin Gunduz, CEO of ERIH Holdings, said building the next-generation utility is the vision of the joint venture.
He said, “Without hydrogen there can b no energy transition, no climate neutrality, and no move away from fossil fuels. Within this respect, for our hydrogen-related investments, we focused on opportunities that are likely to find their way to market in the next 5-10 years and are not as dependent on substantial, coordinated long-term government subsidies that have yet to be designated or allocated.”
Vine Mwense, Executive Director and Co-Founder of PASH Global, said the joint venture will combine strengths and provide a scalable platform to supply customers with affordable, reliable and ever-cleaner energy.”
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“These are complex projects and there is still some way to go in terms of approvals, design, construction and commissioning but this is a major boost on the development of hydrogen in globally,” added Gunduz.
The latest announcement builds on last month’s announcement, when the two companies signed a similar agreement to develop utility-scale solar and energy storage projects of 100MW cumulativecapacity in Paraguay.
The first project will start production in 2024, and the remainder will come on stream between 2024 and 2025. The projects will produce clean and reliable energy across the south American country and lead to the creation of jobs in engineering, construction, and plant operations.
PASH Global and Tswana Renewables recently announced a joint venture to bring clean distributed energy to Botswana too. With an established project pipeline of 30MWp solar PV for private customers in Botswana, the partnership will reduce energy costs and provide access to clean energy. The first two projects are already under construction at Travelodge and Ramotswe.