H2G Green unit inks deals for 332 MW of LNG power generation in PH

Feasibility studies will be conducted for the projects in the coming months.

H2G Green Limited’s subsidiary has entered into deals for liquified natural gas (LNG) power generation in the Philippines, marking its overseas expansion for its energy unit.

In a bourse filing, H2G Green said one of the memoranda of understanding signed by GasHubUnited Utility Private Limited was with Primelectric Holdings, Inc. This covers the conversion and upgrading of a diesel-fueled 24 MW power barge to a natural gas-fueled power barge with an increased capacity of 32 MW, including the provision of any other LNG-related technical expertise and solutions.

They aim to complete a feasibility study for the project and proceed with the finalisation and execution of a binding agreement within three months from the date of the agreement.

Another MoU was signed with MabuhayPower Holdings Corporation for the development of an 300 MW LNG power plant. Under the proposed transaction, GasHub will undertake all LNG-related solutions, subject to the finalisation and execution of a binding agreement.

Under the proposed agreement, GasHub will also provide an LNG floating storage unit and an onshore facility for regasification and cold energy recovery. Recovered energy will be used for industrial purposes, including but not limited to a cold storage facility and a data centre.

This project is estimated to require 250,000 tonnes of LNG per annum when completed.

GasHub will support Mabuhay in its feasibility study and/or front-end engineering design for the implementation and supply of LNG, expected to be completed within six months. The execution of the binding agreement is projected to commence during the three months after.