Tokyo Electric Power Co. Holdings (TEPCO) is making strides in the renewable energy sector by planning to produce hydrogen using geothermal power in Indonesia. In a partnership with Indonesian state-run oil company Pertamina, TEPCO will install hydrogen production equipment at a geothermal power plant in eastern Indonesia. This initiative, set to kick off as early as 2027, is part of a broader strategy to tap into the growing demand for low-emission energy sources.
Meanwhile, major Japanese construction firm Obayashi is also jumping into the hydrogen game, with plans to produce hydrogen in New Zealand. These efforts align with Japan's recent announcement to revise its hydrogen strategy, aiming to boost the annual hydrogen supply to 12 million tonnes by 2040. This target comes as a direct response to increasing competition in the global hydrogen market, with significant investments from the U.S. and Europe.
Japanese Prime Minister Fumio Kishida is keen on developing hydrogen supply chains and enhancing domestic regulations to meet these ambitious goals. By 2030, Japan plans to ramp up its hydrogen supply to approximately 3 million tonnes, up from the current 2 million tonnes primarily used by oil refiners. The longer-term vision is to expand this figure to 20 million tonnes by 2050, with hydrogen and ammonia playing key roles in Japan's goal to achieve carbon neutrality.
Hydrogen is gaining traction as an alternative to fossil fuels, particularly in industries like energy, steel, and chemicals, which are seeking to lower their carbon footprints. Green hydrogen, produced through renewable electricity via electrolysis, is especially promising, offering zero emissions and the potential to power homes and businesses sustainably.
Japan has plans to invest $113 billion over the next 15 years to promote hydrogen development.
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