The NewGen project is centred on the development of the world’s first industrial-scale Carbon Neutral/Green Hydrogen Plant which will produce carbon-neutral hydrogen for downstream processing via a process of water electrolysis. The intent is to supply Carbon Neutral/Green Hydrogen (H2) to the Tringen Ammonia Facility in Point Lisas.
Using world leading engineering design expertise, a detailed bankable Feasibility Study as completed in 2020, which confirmed the technical and commercial viability of the project. Further studies are underway. The goal is to reach the Financial Investment Decision in Q1 2022.
NewGen Energy Limited is currently 100% locally owned by Kenesjay Green Limited (KGL) which is an affiliate of Kenesjay Systems Limited. Given the scale of investment (USD $300M-$400M), the ownership structure will change over the time with the inclusion of investment from the local private sector, as well as the international investment community. Already we have had an Expression of Interest from Fisterra Energy (a member of the Blackstone Group) to be a major investor in the NewGen Project, and we have signed an MOU with the NGC.
The MOU with the NGC which aims in part to develop green industrial projects; is a non-commercial agreement for NGC, Kenesjay Green and NewGen, to work together in our shared interest of bringing greener, commercially viable solutions to Trinidad and Tobago’s local energy sector.