Unlocking Green Hydrogen Financing

The tripartite agreement with PLN and PT SMI aims to unlock innovative financial mechanisms to support HDF’s green hydrogen-to-power projects, in alignment with Indonesia’s recently launched National Hydrogen and Ammonia Roadmap. The roadmap positions hydrogen as a viable alternative in the national energy mix, especially for the power generation sector. PLN has already initiated the development of hydrogen infrastructure, including the country’s first hydrogen refueling stations and pilot hydrogen-powered electricity generation projects. PT SMI, through its SDG Indonesia One platform, provides blended financing solutions for sustainable infrastructure, leveraging funding sources including the EU-backed investment premium channeled via the AFD (Agence Française de Développement).

Scaling Up HDF’s Renewstable® Projects in Eastern Indonesia

HDF Energy, a France-based global leader in the hydrogen industry, specializes in developing large-scale hydrogen infrastructure and advanced multi-megawatt fuel cell technology. This tripartite collaboration accelerates the deployment of HDF’s Renewstable® hydrogen power plants, generating green, stable, and baseload power, 24/7, by seamlessly integrating intermittent renewable energy sources with substantial on-site energy storage in the form of green hydrogen and HDF’s high-power fuel cells. Renewstable® plants stand as the green alternative to traditional diesel fuel power plants, utilizing only solar or wind energy and water to produce predictable clean electricity, thereby reducing greenhouse emissions and minimizing adverse impacts on the environment.

HDF is currently developing 23 Renewstable® projects across Eastern Indonesia, representing more than USD 2.3 billion in investment, with Sumba being the most advanced. These projects are supported by global development institutions, including the U.S. International Development Finance Corporation (DFC). Over one-third of HDF’s Indonesian pipeline is located in the East Nusa Tenggara Province, making the support of the provincial government, through the signing of this mutual agreement, highly strategic to drive the development of these projects, as well as future green hydrogen surplus production for maritime application in the province. The agreement also provides a solid foundation and strategic leverage for the development of future green hydrogen projects at both national and subnational levels.

A Strong Step for Indonesia’s Energy Transition

These strategic agreements are a major step forward in realizing green hydrogen-powered projects in the country. They contribute to accelerating the national energy transition, establishing a robust green hydrogen ecosystem and reducing dependence on diesel and associated subsidies.

Prabowo Subianto, President of the Republic of Indonesia, said: "Today we agreed to go even further by adopting a joint vision declaration towards 100 years of Indonesia - France relations in 2050. It also shows our commitment to enhance our cooperation in strategic areas."

Emmanuel Macron, President of the Republic of France, said: “France is a partner for the energy transition 450 million euros have been disbursed out of a commitment of 500 million euros (to support the energy transition), I am pleased that today in the field of solar power and hydrogen, there are important projects agreed.”

Emanuel Melkiades Laka Lena, Governor of East Nusa Tenggara Province, said: "The signing of this mutual agreement marks a significant milestone in our province’s journey toward a greener and more sustainable future. As the Governor of East Nusa Tenggara, I am proud to partner with HDF Energy, PT PLN, and PT SMI to help drive the development of green hydrogen projects in this region. This collaboration not only accelerates our commitment to reducing carbon emissions but also creates new opportunities for energy security and economic growth for our communities. I am confident that through this partnership, we will lay the foundation for a robust green hydrogen ecosystem that will benefit both the energy sector and maritime industry in NTT."

Reynaldi Hermansjah, President Director of PT SMI, stated: “Through this agreement, PT SMI further demonstrates its role in fostering collaboration with various parties on climate issues. "Today is a very important day for PT SMI, as our active role in the energy transition has been appreciated by President Prabowo and President Macron. This certainly motivates us even more to enhance our collaborative spirit in helping to address the impacts of climate change. We are interested in exploring support for this project due to several aspects, namely first, support for the implementation of new technology, specifically hydrogen in the energy transition aspect, then the project's location in Eastern Indonesia, which is a priority area for us, and the need for blended finance."

Darmawan Prasodjo, President Director of PT PLN, said: “We are ready to collaborate across countries to promote cooperation in the field of clean energy, in this case with France through HDF Energy. This strategic collaboration is not only a symbol of global solidarity but also a catalyst for accelerating the development of the green hydrogen ecosystem in Indonesia towards a net-zero future.”

Mathieu Geze, HDF Energy’s Director for Asia Pacific and President Director of PT HDF Energy Indonesia, declared: “The presence of the Presidents of France and Indonesia at today’s signing ceremonies is a powerful symbol of the growing international cooperation driving the global energy transition. Through these agreements, we are joining forces with PLN, PT SMI, and the Provincial Government of East Nusa Tenggara to unlock the full potential of green hydrogen in Indonesia. With HDF’s innovative French technology, we aim to deliver reliable, clean power to the region while laying the foundations of a resilient hydrogen ecosystem that serves both energy and maritime needs.”

The mutual agreement was signed by Emanuel Melkiades Laka Lena, the Governor of Nusa Tenggara Timur

Province and Mathieu GEZE, the President Director of PT HDF Energy Indonesia.

Photo by: 2025 Indonesian Chamber of Commerce and Industry (KADIN)

ABOUT PT SMI (Persero)

SMI is the state-owned non-Bank Financial Institution that engages in development financing and focuses on supporting the acceleration and equitable distribution of sustainable development in Indonesia. As a catalyst for national infrastructure development, SMI provides commercial financing, public financing, advisory and project development. SMI serves as host of SDG Indonesia One and Country Platform Manager of the Energy Transition Mechanism (ETM). More information, visit: ww.ptsmi.co.id

ABOUT PT PLN (Persero)

PT PLN Persero is Indonesia’s electricity state-owned enterprise who continues in committing and innovating to carry out the important missions in electrifying the country’s development. With the vision to be a leading power company in Southeast Asia, PLN becomes customers’ number one option for delivering energy solution. PLN has an agenda of transforming towards Green, Lean, Innovative and Customer Focused to deliver electricity for a better life. PLN can be reached out through PLN Mobile that is available in PlayStore or AppStore. More information, visit: https://web.pln.co.id/

ABOUT HYDROGÈNE DE FRANCE (HDF Energy)

HDF Energy is a leading global player in the hydrogen industry, dedicated to developing large-scale hydrogen infrastructure and advanced multi-megawatt fuel cell technology.

These fuel cells generate electricity from hydrogen, driving the decarbonization efforts across the power generation, heavy maritime and rail mobility sectors. Set to commence mass production in 2025 at HDF Energy’s facility near Bordeaux, these fuel cells serve as the cornerstone of the power plants and heavy mobility solutions developed by HDF Energy.

HDF Energy's Renewstable® power plants deliver non-intermittent renewable, stable and baseload power by seamlessly integrating intermittent renewable energy sources with substantial on-site energy storage in the form of green hydrogen. HDF Energy is also developing extensive infrastructure for the mass production of carbon-free hydrogen.

Backed by a team of over 150 hydrogen experts boasting more than a decade of operational experience across the value chain, HDF Energy is currently developing a portfolio of advanced projects valued at over €3 billion.

Headquartered in France, HDF Energy has regional offices in Latin America, the Caribbean, Africa, and the Asia-Pacific region with 35+ nationalities among its staff. Since 2021, the Group has been listed on the Euronext Paris stock market.

More information, visit: www.hdf-energy.com