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Galp plans to establish a green energy center in Sines.  Advance in hydrogen and wants to purify lithium - energy

Galp plans to establish a green energy center in Sines. Advance in hydrogen and wants to purify lithium – energy

Oil company Galp wants to do the trick in hydrogen, lithium and biofuels. In this sense, the Sines unit will gradually become a “green energy center”.

These plans are announced as part of Capital Markets Day, which falls on Wednesday, June 2, when the oil company’s strategy is presented to investors.

“The gradual transformation of the Sines industrial unit into a green energy center will also enhance access to green hydrogen, which will allow other industrial applications, such as the production of synthetic fuels, and support a significant reduction in emissions by 2030,” said a statement posted on the website of the Securities Market Authority. Portuguese Finance. Still within hydrogen, “Galp intends to develop by 2025 a 100 MW electrolyzer project, with subsequent expansion potential to 0.6-1.0 GW, if the business model is proven,” the company details.

In the field of biofuels, the company is evaluating the integration of a biofuel unit, as well as implementing energy efficiency initiatives and desulfurization projects.

At the same time, the oil company wants to find space to position itself in the battery industry. “We are also evaluating opportunities to enter the battery value chain, with the aim of anticipating needs in line with the European strategy. Thus, Galp is positioning itself to expand its lithium chemical processing activities in Portugal, securing raw materials and developing important partnerships,” the statement reads.

For energy transition-aligned business solutions that are “innovative and have great potential,” Galp intends to allocate 5% of the group’s net investment between 2021 and 2025.

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