HEVO-Portugal Project Approved by EU Commission
Fusion Fuel has received notification from the European Commission that their 630MW HEVO-Portugal green hydrogen project was approved under the Important Projects of Common European Interest (“IPCEI”) Hy2Infra program.
With their project being one of 33 projects selected for approval, Fusion Fuel are now able to commence funding negotiations with government stakeholders and the European Investment Bank, which provides financing and advisory support to projects selected for public funding.
The €650 million project will be delivered in Sines, Portugal, and is slated to produce 62,000 tonnes of green hydrogen each year, a portion of which is expected to be used in the production of green ammonia and exported from the Port of Sines to the Port of Rotterdam in the Netherlands.
Frederico Figueira de Chaves, CEO of Fusion Fuel, said: “This is a game changing achievement for Fusion Fuel, solidifying our position amongst the leading companies in the green hydrogen industry.
“HEVO-Portugal is one of the largest electrolyser projects approved in the Hy2Infra wave, a testament to the exceptional innovation of our HEVO technology and the strong conviction that Portugal and the European Union have in our ability to successfully deliver this all-important project.”
Pedro Caçorino Dias, Fusion Fuel’s Head of Commercial for Portugal, added: “The HEVO-Portugal project was conceived of not only as the centrepiece of Fusion Fuel’s green hydrogen project portfolio, but also as the most ambitious green hydrogen project in Portugal.
“Our vision in creating the project was to help establish Sines as the principal green hydrogen hub of Southern Europe and unite two major European ports in advancing the green energy economy, and in doing so, create substantial spillover benefits to both regions and to industries across Europe.
“While we are still in the very early innings, we are confident that HEVO-Portugal will be instrumental in contributing to the rapid decarbonization of Portugal’s largest industrial hub and, most importantly, in helping catalyse the European green hydrogen economy.”
