KEPPEL Corporation : BN4 0%’s infrastructure arm, Keppel Infrastructure, will partner ExxonMobil Asia-Pacific to develop access to low-carbon hydrogen and ammonia solutions for scalable commercial and industrial applications in Singapore.

Both parties have inked a memorandum of understanding, they announced on Thursday (Apr 20). The agreement aligns with the government’s national strategy for hydrogen to meet up to half of Singapore’s power needs by 2050.

The companies will collaborate to address local authorities’ call to develop low or zero-carbon power generation and bunkering facilities on Jurong Island.

Keppel aims to use low-carbon hydrogen for Singapore’s first hydrogen-ready, 600-megawatt advanced combined cycle power plant on Jurong Island. The plant is currently under construction and is expected to be completed in the first half of 2026.

Keppel is also conducting a feasibility study of developing a power plant that could use ammonia directly as a fuel on Jurong Island.

ExxonMobil’s Asia-Pacific president for low-carbon solutions, Irtiza Sayyed, said the partnership with Keppel is an example of providing “critical, scalable solutions to reduce carbon dioxide emissions in support of (ExxonMobil’s) and Singapore’s net-zero ambitions”.

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Keppel Corp’s shares closed 2 per cent or S$0.12 higher at S$6.19 on Wednesday.