Japan has announced plans to invest $150 billion in hydrogen over the next decade, while Malaysia has revealed it will invest in solar power and hydrogen under a new energy plan. Kansai Electric Power and Canada’s ATCO have separately agreed on cooperation in the feasibility study of green hydrogen deliveries.
Japan has announced a green transformation plan that commits 20 trillion yen ($150 billion) to mobilize 150 trillion yen over the next decade. The initiative covers hydrogen, ammonia, synthetic methane and synthetic fuels and focuses on expanding into high-demand foreign markets. Prime Minister Fumio Kishida said the “Asia Zero Emission Community” initiative will promote the energy transition in Asia, leveraging Japan’s expertise in decarbonizing technologies such as hydrogen and ammonia. The government is also revising its basic hydrogen strategy with the aim of increasing the supply of hydrogen to around 12 million tons by 2040, which is a sixfold increase.