NeoGreen Portugal invests $1 billion in a green hydrogen plant in Sines – Energia

The NeoGreen Portugal “joint venture” will invest more than one billion euros in the construction of a plant for the production of “green” hydrogen and derivative fuels, in the municipality of Sins (Setúbal), it was announced on Friday.

According to Aicep Global Parques, in a statement, the investment of more than 1 billion euros resulted from a commercial collaboration between NeoGreen Hydrogen Corp (Canada) and Portuguese company Frequent Summer SA, for the installation of an “electrolyzer complex of more than 500 MW.” [megawatts]🇧🇷

The hydrogen and “green” fuel production unit will be installed on a 10.5-hectare plot of the Senes Industrial and Logistics Zone (ZILS) and a surface right reservation contract will be signed, on Monday, in Lisbon, in the presence of the State Secretary for Internationalization, Bernardo Evo Cruz.

For the official, citing the statement, the project “will embody the national strategy for hydrogen in the constitution of the ‘Sense Hydrogen Valley’, recognizing the government’s commitment to developing the Portuguese economy on the basis of dual energy and digital transformation.”

“Sines currently consolidates, stabilizes or attracts investments in logistics, industry, energy and telecommunications from the most diverse geographies: Portugal, Spain, France, Italy, Germany, Switzerland, the Netherlands, Denmark, Poland, Sweden, the United Kingdom, Ireland, Thailand, Singapore, Malaysia, China, Australia, Brazil, the United States and, of course, Canada. “.

In turn, New Green Hydrogen CEO Chris Corson said the company, which has “a portfolio of green hydrogen projects around the world,” is “particularly excited” about the alliance.

Having a project in the heart of the European Union [União Europeia]Which will be one of the main centers of hydrogen demand in the coming years, is a strategy for us as a company and we look forward to building this opportunity together with our partners at Frequent Summer,” the aforementioned official confirmed in the same statement.

Rogerio Ponte, a board member of Frequent Summer, a company that has been developing photovoltaic complexes for more than 20 years in several countries, explained that this project “is a continuation of the commitment to innovation and the future of renewable energies.” He highlighted the “sustainability that this mega project represents.” H2V for the Senes and Portugal region.

In turn, CEO of Aicep Global Parques, the managing entity of ZILS, Felipe Costa, stated that “this prospective €1 billion investment by NeoGreen in the ports, logistics and industrial complex of Sines is part of a ‘pipeline’ of projects adding up to about 20 1 billion euros of investment by 2030.”

According to the official, “2500 million euros are planned for offshore and onshore logistics, 12,500 million euros for circular and carbon-neutral industrial projects and 5,000 million euros for telecommunications, submarine cable docking stations and data centers.”