Brazil Secures €2bn from EU for Green Hydrogen Production
A statement delivered by President von der Leyen promised the EU would invest €2 billion to support Brazil’s green hydrogen production.
Addressing President Lula at a press conference this month, the President of the European Commission commended Brazil for producing 87% of their electricity from renewable sources, and 50% of their overall energy.
Dubbing the country a ‘superpower in renewable energy’, she added: “This is truly impressive and we can learn a lot from you. I am very pleased that we are launching today another Global Gateway flagship project. This is on hydrogen.
“With this, Europe will invest €2 billion to support Brazil’s production of green hydrogen and to promote energy efficiency in your industry.”
The EU’s Global Gateway Initiative sets out to invest in infrastructure projects around the world in an attempt to address global challenges, including fighting climate change.
A previous analysis from Rystan Energy projected that Brazil would be one of the top ten green hydrogen producers by the end of the decade, with the capacity to produce over one million tonnes per year by 2030.
Furthermore, the country is home to one of Latin America’s largest green hydrogen projects, Unigel’s 60MW renewable H2 and green ammonia plant.
The plant is currently under construction in the state of Bahia state, and is due to be expanded to 600GW by 2027.