J-POWER and Yamna Sign a Memorandum of Understanding for the Joint Development and Investment in Green Hydrogen and Ammonia Projects Globally.
Electric Power Development Co., Ltd. (“J-POWER”), a power generation company headquartered in Tokyo, Japan, and YamnaCo Ltd (“Yamna”), a global green hydrogen and derivatives developer and investor registered in London, UK, have announced today the signing of an agreement for the joint development and investment in green hydrogen and derivatives projects globally (the “Partnership”).
The Partnership, stemming from a period of collaborative development efforts on green hydrogen projects and a successful working relationship, takes roots in the excellent synergies between the two organisations:
- J-POWER is a power generation company aiming net zero CO2 emissions by 2050.
Through its “Blue Mission 2050” initiative, released in 2021, the group has committed to reduce its CO2 emissions by 46 % in 2030 and to achieve net zero by 2050. In order to achieve this goal, the group is planning to steadily replace coal-fired power plants with CO2-free hydrogen and ammonia power generation ones; and - Yamna is a leading green hydrogen developer and investor.
The company is actively engaged in the identification and development of several green hydrogen and derivatives projects, with a focus on the most concrete and imminent use-cases, among which green ammonia production in regions with world-class renewable energy resources with an export angle to the most attractive demand centres, such as Japan.
Under the Partnership, the Parties agreed to jointly develop and invest into green hydrogen projects worldwide which are either based on Yamna’s existing pipeline or additional projects to be jointly originated. Based on the agreed collaboration framework, the Parties will establish specific agreements for any project they jointly engage in.
🔥 What about we co-host a webinar? Let's educate, captivate, and convert the hydrogen economy!
Hydrogen Central is the global go-to online magazine for the hydrogen economy, we can help you host impactful webinars that become a global reference on your topic and are an evergreen source of leads. Click here to request more details
Hiroyasu Sugiyama, J-POWER Executive Vice President, said:
We are glad to collaborate and develop jointly with Yamna as an excellent developer, which has structuring expertise in the domain and a common spirit to achieve net-zero-emissions. Hydrogen is an important technology in enabling decarbonization worldwide. We hope to bring back what we learn from our activities to contribute to achievement of carbon neutrality.
Abdelaziz Yatribi, Yamna Chief Executive Officer, said:
We are honoured to partner with one of the power generation companies making concrete steps in steering the industry with ambitious decarbonization targets. We have found in J-POWER an excellent partner with complementary attributes, and are looking forward to announcing exciting common projects news very soon.
READ the latest news shaping the hydrogen market at Hydrogen Central
J-POWER and Yamna Sign a Memorandum of Understanding for the Joint Development and Investment in Green Hydrogen and Ammonia Projects Globally. source
