AG Group's recent participation in the 17th Papua New Guinea Resources and Energy Investment Conference & Exhibition in Sydney highlighted the company's contributions to Papua New Guinea's (PNG) renewable energy landscape, which alligned perfectly with the recent COP28 Summit in Dubai.
The group’s Managing Director, Mr. Allan Guo presented a couple of our projects since the company’s inception. Among our achievements is the successful commissioning of the 54MW Edevu Hydropower, currently bolstering the Port Moresby grid. In a strategic move towards enhancing sustainability, we are in the process of installing floating solar panels on the dam, a project that will contribute an additional 1MW, with plans to scale up to a total capacity of 5MW. This initiative not only boosts power generation but also aids water retention in the dam during dry seasons.
In addition to showcasing our ongoing hydropower projects in PNG, Mr.Guo provided insights into AG Group's trajectory towards a net-zero pathway. By focusing on Hydro Energy and E-Methanol as green sources of fuel, we are pioneering efforts to contribute to a more sustainable future.
Zero-carbon hydro energy system has the capability to produce green hydrogen, which, when reacted with captured CO2, leads to the production of E-Methanol. This technology has gained significant momentum in recent times, highlighted by Maersk's strides in 2021 and the recent surge in orders for over 100 methanol-fueled cargo ships (CMA CGM, COSCO, MSC, HMM, etc.).
"..making history as the first PNG-based company opening a dialogue into e-methanol as a zero-carbon alternative"
Notably, AG Group is making history as the first PNG-based company opening a dialogue into e-methanol as a zero-carbon alternative. While this groundbreaking move was not the focal point at the PNG Resources and Energy Investment Conference, we firmly believe that PNG possesses the potential to lead the Pacific region in this transformative initiative. We are encouraged by the commitment shown by PNG, as one of the 196 countries signing the COP28 accord, signaling a collective effort to transition away from fossil fuels at the recent Climate summit in Dubai.
At AG Group, we are proud to be at the forefront of sustainable energy solutions, contributing to PNG's green energy landscape and embracing a future aligned with global climate goals.