Canadian renewable energy company Neogreen Hydrogen and Portuguese developer of photovoltaic solar parks Frequent Summer has announced it plans to invest more than 1 billion euros ($1.04 billion) in a green hydrogen plant in Portugal. Hydrogen Industry Leaders looks at the project.
The plant will be built in the port city of Sines, in Portugal, 150 km (93 miles) south of Lisbon. It will include a 500-megawatt electrolyser to produce green hydrogen and derived fuels.
It has been said that the agreement for the state to make 10.5 hectares available to install the plant will be formally sealed on Monday.
Duarte Cordeiro, Portuguese’s Minister of Environment and Climate Action said that his country’s focus on low-cost wind and solar power will allow the production of hydrogen and other renewable gases at competitive prices and ensure greater energy independence.
In a normal year, 60 per cent of electricity consumption in Portugal comes from renewable sources, and the government wants that share to reach 80 per cent by 2026.
Duarte told a parliamentary committee that: “We believe that Portugal will be an important (European) producer of hydrogen and renewable gases in the short term. The projects are in different stages of development,”