- Signing of a Memorandum of Cooperation (MoC) with the Mindanao Development Authority, the Zamboanga Sibugay Provincial Government, a group of municipalities on the island of Olutanga and the Zamboanga del Sur II Electric Cooperative for the development of Renewstable® power plants;
- Strengthening of the Asia pipeline with projects in the Philippines and Indonesia.
Bordeaux, 21 March 2022 – HDF Energy (“Hydrogène de France” or the “Company”) – Euronext Paris: HDF – today announces the signing of a Memorandum of Cooperation (MoC) with the Mindanao Development Authority, the Zamboanga Sibugay Provincial Government, a group of municipalities on the island of Olutanga and the Zamboanga del Sur II Electric Cooperative (Zamboanga Sibugay Province) in the Philippines for the study and development of Renewstable® power plant projects.
Fully focused on enhancing its project portfolio, HDF Energy is expanding its footprint in Asia, one of its five priority regions. The signing of this agreement in the online presence of the French ambassador to the Philippines formalises HDF's first partnership with local authorities, illustrating the development model implemented by the Company in close cooperation with local stakeholders. Renewstable® power plants contribute greatly towards promoting responsible economic development in the region.
Invented and developed by HDF Energy, Renewstable® multi-megawatt power plants produce entirely renewable, stable and controllable electricity 24/7 with zero greenhouse gas emissions. They combine intermittent renewable energies (solar or wind) with massive long-term storage of electricity in the form of hydrogen and short-term battery storage to provide clean, stable and continuous energy, day and night.
This agreement reinforces HDF Energy's strategic presence in Asia, where the Company last year formed a subsidiary, staffed by a local team, that has already made significant progress in power plant development with projects underway in Indonesia. HDF is continuing its expansion in the region by setting up operations in Cambodia and Vietnam.
Damien Havard, Chairman and CEO of HDF Energy, said: “We are immensely proud to be partnering with authorities in the Southern Philippines for the development of virtuous economic projects that today meet demand from the huge market for non-intermittent renewable energy. We are fully prepared to invest, develop and operate Renewstable® power plants. This project, the result of meticulous local work by our developers, strengthens our pipeline in Asia, where other major infrastructure projects are currently under development, as well as our global leadership in hydrogen power.”
ABOUT HDF ENERGY (HYDROGÈNE DE FRANCE)
HDF Energy is a global pioneer in hydrogen energy. HDF Energy develops high-capacity Hydrogen-Power plants and is active, through dedicated project companies, in their operation. These plants will provide continuous or on-demand electricity from renewable energy sources (wind or solar), combined with high power fuel cells supplied by HDF Energy.
HDF Energy develops two types of Hydrogen-Power plants:
- Renewstable® (POWER TO POWER): Multi-megawatt power plants, producing stable electricity 24h/day, composed of an intermittent renewable source and on-site hydrogen energy storage.
- HyPower® (GAS TO POWER): Multi-megawatt power plants producing electricity on demand from green hydrogen from gas transportation networks.
HDF Energy has integrated key fuel-cell know-how under a memorandum of understanding with Ballard (seven-year exclusive licence agreement) and has developed the world's first mass production plant for high-power fuel cells for energy, which will be commissioned in France (Bordeaux Metropole) in 2023. Through this activity, HDF Energy will also serve the maritime and data center markets.
HDF Energy has positioned itself as a powerful accelerator of the energy transition by offering non-intermittent, grid-friendly and on-demand renewable power.
HDF shares have been listed on the regulated market of Euronext Paris compartment B since 24 June 2021.
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