LBS Bina Signs MoU for 10GW Green Hydrogen Plant in Sabah

Malaysia Takes a Step Forward in Green Energy Transition

Setting the Stage for a Clean and Sustainable Future

On June 7, 2023, LBS Bina Group Berhad, a leading Malaysian property developer, signed a Memorandum of Understanding (MoU) with Sinohydro Corporation Limited, a Chinese state-owned construction and engineering company, to collaborate on developing a 10-gigawatt (GW) green hydrogen plant in the state of Sabah, Malaysia. This landmark agreement marks a significant milestone in Malaysia's journey towards a greener and more sustainable energy future. LBS Bina's partnership with Sinohydro combines LBS Bina's expertise in project development and construction with Sinohydro's extensive experience in renewable energy. The proposed green hydrogen plant will be located in the Sipitang district of Sabah, leveraging the region's abundant renewable energy resources to produce clean and sustainable hydrogen. The MoU outlines the framework for cooperation between LBS Bina and Sinohydro, including feasibility studies, technology selection, and project implementation. The project aims to harness the potential of green hydrogen as a game-changer in Malaysia's energy landscape. Green hydrogen, produced through the electrolysis of water using renewable energy, offers a promising alternative to fossil fuels, reducing carbon emissions and contributing to a cleaner environment. The development of a 10GW green hydrogen plant in Sabah aligns with Malaysia's national aspiration to achieve net-zero greenhouse gas emissions by 2050. The project supports the government's goal of transitioning to renewable energy sources, enhancing energy security, and promoting economic growth. The green hydrogen plant is expected to generate significant economic benefits for Sabah and Malaysia as a whole. The project will create employment opportunities, boost local industries, and attract foreign investments. The production and export of green hydrogen will also contribute to Malaysia's balance of trade and strengthen its position as a regional leader in renewable energy. LBS Bina and Sinohydro's partnership reflects the growing global momentum towards green hydrogen as a key part of the solution to climate change. The development of this large-scale green hydrogen plant in Sabah demonstrates Malaysia's commitment to a sustainable future and its role in shaping the global energy landscape.