Revealed today (April 12), the project has potential to be the largest clean hydrogen producing facility not only in the Caribbean but in the world, the companies said.

Once completed, the $200m plant will support the growing green economy in the Caribbean whilst also meeting 20% of the hydrogen requirement for an existing world-scale ammonia plant in Point Liasas, Trinidad.

Read more: Barbados to become home to the Caribbean’s ‘largest’ hydrogen project
Read more: Trinidad and Tobago laying the foundation for a hydrogen economy

This will also help save approximately 200,000 tonnes of CO2 each year.

Upon acquiring a 70% stake in the project, HDF will add its in-depth experience in hydrogen technologies, procurement and project finance, to the Trinidad-specific energy and ammonia expertise contained within the KGL project development team.

This is the third major investment in the Caribbean this last year for HDF, which announced hybrid “Renewstable®” baseload power plants using green hydrogen and solar power in French Guiana and Barbados alongside its regional partner and investor, RUBIS.

Commenting on the HDF majority acquisition, KGL’s Chairman Philip Julien said, “KGL welcomes this significant endorsement and investment in NewGen by HDF, and looks forward to our collaboration and sharing of expertise.

“Our partnership enables improved local access to international finance and technology, optimum opportunities for local ownership, and an acceleration of Trinidad and Tobago’s energy transition commitments.”

Damien HAVARD, CEO of HDF Energy, said, “We believe we have the ideal partners in Kenesjay Green, given their extensive knowledge of the industry, business acumen and their commitment to local development.

“Our investment in NewGen affirms our belief that Trinidad and Tobago’s energy industry offers a unique opportunity for the development of world scale and cost competitive carbon-free Hydrogen.

“This project demonstrates that green solutions can effectively support the transition of hydrocarbon-based economies like Trinidad and Tobago – and HDF is poised to be a part of leading the change.”