Keppel and GenZero sign MOU to develop sustainable fuel projects in Asia Pacific

In Singapore, Keppel Corporation Limited (Keppel), through its Infrastructure Division, and GenZero, a Temasek-owned investment platform company that is focused on accelerating decarbonization globally, have signed a Memorandum of Understanding (MOU) at the 2023 United Nations Climate Change Conference, more commonly referred to as COP 28,  to jointly pursue opportunities to accelerate the transition to clean energy and the development of sustainable fuel projects across the Asia Pacific.

Under the MOU, the two parties will carry out feasibility studies to co-develop projects that are aimed at facilitating the early retirement of coal-fired power plants (CFPP), as well as Southeast Asia’s pivot to cleaner energy alternatives, such as solar power or geothermal energy.

The world’s youngest CFPP fleets are located in Southeast Asia and the region relies on coal in its energy mix to meet growing energy demands. With CFPPs power generation being the single largest source of carbon emissions globally, the collaboration between Keppel and GenZero comes at a critical juncture as the region navigates rising energy demand and a mounting agenda to phase out coal and meet net zero targets.

In addition, both parties will explore bioenergy fuel projects in areas such as biomethane, biomethanol and Sustainable Aviation Fuel (SAF) in the Asia Pacific. Bioenergy, a form of renewable energy generated from organic materials such as purpose-grown crops and organic wastes, is poised to play a pivotal role in the ongoing energy transition and it offers numerous advantages to decarbonise hard-to-abate industries such as aviation and the heavy-duty transport sector. Bioenergy fuels are also compatible with existing infrastructure as a drop-in solution.