io awarded contract for NewGen Energy’s carbon neutral/green hydrogen project
Tuesday, 1 September 2020
io consulting (io) announced today that it has been awarded a contract for a bankable feasibility study (BFS) by NewGen Energy Limited (NewGen) to support development of a proposed carbon-neutral/green hydrogen production facility in Trinidad and Tobago (T&T). The hydrogen output from the project is intended as a “green” input to ammonia production at the Trinidad Nitrogen Company (Tringen) facilities in the Point Lisas Industrial Estate. io is a joint venture of Baker Hughes and McDermott.
The project will focus on production of hydrogen from an industrial electrolysis process powered by carbon-neutral electricity and “green” electricity from renewable sources. By harnessing renewable natural resources and excess heat from T&T’s power plants, NewGen will be delivering a creative solution contributing to the energy transition of T&T’s hydrocarbon-based industrial complex. Philip Julien, NewGen’s Managing Director said:
“There are significant and positive implications for this project. Once successful, the project will open the door to greener petrochemical products from Trinidad & Tobago, including green and carbon-neutral ammonia”.
“We selected io because they offered the best combination of expertise, deep domain technical know-how and an agile project approach which will bring a robust solution for the project”.
io’s parent companies – Baker Hughes and McDermott – have a long history of involvement along the entire value chain of the Trinidad and Tobago energy sector. This, along with their demonstrated ability in early front end project work and in delivering techno-economic expertise for similar type projects, made them a logical fit for the NewGen project.
Among other undertakings, io will perform a technical due diligence assessment which will identify, evaluate and explore commercially available electrolysis technologies to determine the optimum technology and supporting facilities required to progress to the next project stage.
Once completed, the results of this study will be used in part to support and inform any related decisions by Tringen as the proposed off-taker of an estimated 27,000 metric tonnes per year of carbon-neutral and green hydrogen. The Tringen facility is jointly owned by the government of Trinidad and Tobago and Yara.
Commenting on the award, Richard Dyson, CEO of io consulting said:
“io is delighted to have been engaged by NewGen on this pivotal project for Trinidad & Tobago and to be a part of this innovative move towards energy transition.”
He explained that,
“io will draw on its unique combination of technical capabilities, proven expertise and sound practices in front end loading to successfully deliver this project.”
about NewGen Energy
A Greener Future – Propelled by a New Generation of HydrogenNewGen Energy Limited was locally incorporated in Trinidad and Tobago as a private sector special purpose vehicle for a proposed carbon-neutral and green hydrogen production project to be located in Point Lisas, Trinidad. The development of NewGen has been sponsored by Kenesjay Systems Limited (Kenesjay), a local project development and consulting firm founded in 1998, with its core business of securing a sustainable energy supply for Trinidad, Tobago, and the Region. For more information about NewGen Energy visit www.newgenenergyltd.com
about io consulting
io consulting is a strategic development consultancy created to provide greater certainty and higher decision quality to operators and help bring more energy and hydrocarbons projects to sanction by disrupting traditional approaches. io is unique with its integrated strategic-techno-commercial capabilities ensuring a balanced approach between commercial, technical and strategic priorities capitalising on multi-discipline capabilities in subsurface, drilling, subsea, marine, facilities, decommissioning/life extension and environmental alongside economic modelling. We are a joint venture between Baker Hughes and McDermott and are unique in having their know-how, expertise and data ‘hard coded’ into our DNA.