Trinidad-based Kenesjay Systems Ltd has signed a Letter of Intent (LOI) with the French hydrogen specialist HDF Energy to establish a partnership for the development of the NewGen Carbon-Neutral & Green Hydrogen project.
The main partnership principles and terms are now under discussion for a comprehensive MoU that is expected to be signed within the next two months.
By introducing a new source of carbon neutral and green hydrogen to the petrochemical sector of Point Lisas at a competitive cost, the NewGen Hydrogen Project will play a key role in the drive towards a decarbonising transition of the T&T energy industry.
The hydrogen will be generated on an industrial scale from carbon-neutral and renewable sources of electricity using an electrolysis process.
HDF Energy is strengthening its position in the Caribbean where it has implemented the first hydrogen infrastructure participating in the de-carbonization of the electricity sector in Martinique.
Plans by the company are underway for the construction of the world’s largest hybrid power plant with hydrogen storage in nearby French Guiana.
A similar project is also under development in Barbados.
This combination promises to deliver the NewGen Project.
Expressing excitement at the collaboration, Damien Havard, CEO of HDF Energy said, “We are excited to be working with NewGen and Kenesjay which has extensive experience and in-depth knowledge of the energy sector in Trinidad. We believe that NewGen will be the gateway project to a green hydrogen economy in Trinidad and Tobago, and that the model can be successfully duplicated given the extensive local demand for hydrogen.”
Speaking at the signing of the LOI, Philip Julien, managing director of Kenesjay said, ‘We recognised the value that HDF Energy could bring to the NewGen project, as they have developed the first Caribbean based decarbonising hydrogen project in an industrial context. HDF’s experience in large scale development projects within the region, and its active participation in a range of private competitive tenders for electrolysers, make them an ideal partner.”
He affirmed that as NewGen was incorporated by Kenesjay as its project sponsor, it will have access to Kenesjay’s deep knowledge of the petrochemical and energy sector in Trinidad and Tobago, and thereby become a pivotal player in the evolution of the local industry.