Jakarta, Aug 16 (IANS) Indonesia aims to secure $25.2 billion in private sector investment for green hydrogen development by 2060, according to the Ministry of Industry.
This initiative is designed to prevent an energy crisis in the industrial sector while also supporting carbon dioxide reduction, with a target of cutting CO2 emissions by 912 million tons by 2030, Xinhua news agency reported.
“Although production costs are still quite high, the business potential for green hydrogen is greater compared to conventional hydrogen,” said Dendy Apriandi, Director of Investment Deregulation at the Ministry of Industry, on Thursday.
One notable investor in green hydrogen development is the state-owned oil and gas company Pertamina, which has allocated $11 billion to achieve its green energy development targets.
Green hydrogen is a clean, emission-free fuel that is produced by splitting water into hydrogen and oxygen using electricity generated from renewable sources like solar, wind, or hydropower. This process is called electrolysis and is considered the cleanest and most sustainable way to produce hydrogen.
Green hydrogen has the potential to replace fossil fuels and reduce carbon emissions, and its main applications are likely to be in heavy industry, long-haul transport, and long-term energy storage.
–IANS
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