WORLD HYDROGEN ASIA INTERVIEW: HDF targets Asia power sector as renewable hydrogen gateway

HDF Energy is positioning Asia-Pacific's island and remote grids as the commercial gateway for renewable hydrogen, with 38 projects worth $3.8 billion coming up across Indonesia and the Philippines, Mathieu Geze, director Asia at HDF Energy, told Platts, part of S&P Global Commodity Insights.

The French technology firm is establishing hydrogen-to-power projects in Asia-Pacific with an eye on commercial operations likely ahead of 2030, which it says will help usher in broader market adoption for the renewable fuel.

"The power sector provides commercial schemes with agreements accepted by financial institutions," Geze said on the sidelines of World Hydrogen Asia 2025 summit in Tokyo, taking place over July 8-10.

"We see that the power angle could serve as a cornerstone for other applications, such as maritime mobility, while paving the hydrogen ecosystem for large-scale renewable projects."

The company's strategy focuses on using the power sector's established commercial frameworks and bankable projects to create a foundation for the renewable fuel, as exemplified by its recent deal with Vietnam's Southern Power Corp. to develop renewable hydrogen-based power projects.

Geze said HDF Energy has developed a pipeline of 23 projects in Indonesia, representing $2.3 billion in investment, alongside 15 projects in the Philippines worth $1.5 billion.

HDF Energy's project is unique in that it deploys technology that combines renewable assets with significant on-site production and storage of renewable hydrogen, along with high-power fuel cells, to deliver stable, on-demand clean electricity to the grid, the company said.

The firm signed a memorandum of understanding with Vietnam's Southern Power Corp. in May to develop its renewable hydrogen-based power projects in Vietnam, aiming to replace diesel generators with round-the-clock renewable electricity.

Commercial viability

Despite the hurdles in renewable hydrogen adoption, Geze maintains that commercial deployment remains achievable before 2030, particularly in Asia-Pacific's challenging grid environments where diesel dependence creates opportunities for cleaner alternatives.

"Despite the cancellation of many large projects, the potential in the long run remains significant," Geze said. "These areas are challenging to decarbonize, and hydrogen has ample opportunities to play in decarbonizing diesel-dependent areas."

As such, the company's approach centers on hydrogen-to-power applications in island and remote grids, where technical and commercial feasibility can be demonstrated while building the learning curve necessary to reduce costs for future projects.

In fact, Geze asserted, some projects in the Indonesian and Philippine pipelines could begin construction next year, proving the adoption and pricing of renewable hydrogen will be region-specific, with affordability varying significantly by country and application.

Geze said HDF Energy operates as an independent power producer and project developer, selling electricity to grid off-takers rather than marketing hydrogen directly. This model sidesteps current uncertainties around hydrogen pricing.

"What matters to us will be the electricity price delivered to the grid," he explained, noting that achieving the widely cited $2/kg hydrogen cost target depends on large-scale renewables and proximity between supply and demand.

Regional expansion

The company is casting its net wider in Asia-Pacific, with dedicated teams in Vietnam, Cambodia, India, the Philippines, Indonesia, Japan, Australia, and Pacific island nations, working on opportunities, Geze said.

The next milestone involves aligning stakeholders to launch the company's first Vietnamese project on Phu Quy island, building on the momentum from recent partnerships with key local counterparts across the region, he added.

HDF Energy also signed an MOU with Vietnam Maritime Corporation (VIMC) to deploy renewable hydrogen and fuel-cell electric ships across Vietnam's maritime operations, marking a step in the Southeast Asian nation's efforts to decarbonize shipping.

"The upcoming IMO meeting in October 2025 is expected to formally adopt the IMO Net-Zero Framework, a landmark regulatory package aimed at decarbonizing the international shipping sector," Geze said.

"I anticipate this adoption will provide a clear and enforceable pathway for the integration of hydrogen and its derivatives into maritime decarbonization strategies."

HDF's clean energy approach could provide a template for hydrogen commercialization and marine decarbonization, potentially accelerating the technology's adoption timeline amid a nonlinear and uneven energy transition.

Platts, part of S&P Global Commodity Insights, assessed South Australia hydrogen produced via PEM electrolysis (including capital expenditures) at $4.70/kg on July 7, up nearly four times from a month earlier.

Platts assessed Japan hydrogen produced via PEM electrolysis (including capex) at $7.00/kg on July 8, up 64% month over month.