HK Stock Market Move | FIRST PACIFIC (00142) rose more than 3% recently as its subsidiary company plans to establish a hydrogen fuel power plant in Singapore.

First Pacific (00142) rose more than 3%, up 3.02% to HK$4.43 by the time of writing, with a turnover of HK$18.58 million. In recent news, First Pacific announced that its subsidiary, Pacific Light Power Pte. Ltd. (PLP), has been authorized by the Energy Market Authority of Singapore to build, own, and operate a hydrogen fuelled closed-loop gas turbine facility in Jurong. The facility is expected to start operating in January 2029 with a minimum power generation capacity of 600 megawatts, making it the largest single H-class closed-loop gas turbine power plant in Singapore with the highest efficiency among similar facilities. During the initial phase, the new power plant will be able to generate at least 30% of its power using hydrogen, with plans to eventually transition to 100% hydrogen combustion for power generation. PLP currently operates an 830-megawatt closed-loop facility fueled by liquefied natural gas, aiming to provide reliable and environmentally compliant power for Singapore.