EDP Highlights Brazil as an Important Route for Its Global Investments in the Energy Sector and Evaluates Green Hydrogen Plant

Written by Valdemar Medeiros

Published on 16/07/2023 at 09:54

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EDP, Portuguese Energy Company, Is Planning to Make Billion-Dollar Investments in the Green Hydrogen Sector and Has Already Set Sights on Germany as Its Main Client.

EDP will keep Brazil as an essential route for its global investments in the energy sector, even after closing its local subsidiary’s capital, and is evaluating new bets related to energy transition, with a new green hydrogen plant focused on exports to Europe, particularly Germany, according to information from the company’s global CEO.

EDP Announced Investments of R$ 30 Billion in Green Hydrogen

Last week, the utility held a share purchase auction to delist EDP Brazil from B3, in an initiative that mobilized 4.4 billion reais and increased the controlling group’s stake in the total share capital of the Brazilian subsidiary to 87.9%.

According to Miguel Stilwell, CEO of EDP, the move is part of the strategy to simplify its corporate structure and drive business growth in Brazil, where the EDP group operates with two platforms: its integrated energy business subsidiary and EDP Renewables, which creates and operates large renewable plants.

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According to the executive, reaffirming recent investment projections in Brazil, approximately R$ 30 billion will be invested over the next 5 years, focusing on ensuring that these two platforms act as united as possible.

At the same time, the company has already started exploring new fronts in the national market and sees good conditions to move forward with a new green hydrogen production project, a fuel considered important for the energy transition of hard-to-decarbonize sectors, with Germany being one of the main clients.

Brazil Can Produce Green Hydrogen at Affordable Prices for Other Countries

The executive claims that the company is participating in a green hydrogen auction in Germany, which would aim to establish an industrial project in the country for export. However, Stilwell did not provide details on production capacity or potential investments.

The project is expected to involve an EDP consortium, which would act as a supplier of the sustainable energy necessary for green hydrogen production, alongside companies specialized in other areas, such as chemicals and gas transportation. A country like Brazil, which has all these natural resources for renewable energy, can produce green hydrogen very cheaply.

In reference to a pilot project already operational by EDP in the Ceará complex, the executive stated that the first hydrogen molecule was produced in Latin America near its Pecém plant. Germany is leading Europe’s first auction for green ammonia, a derivative of renewable hydrogen. The bidding presents an important opportunity for projects in the country, as it will only purchase renewable fuel produced outside the European Union member states.

EDP Seeks to Expand Its Traditional Business in Brazil

In addition to investments in green hydrogen for export to Germany, EDP is also focusing on expanding its traditional businesses in the Brazilian electricity sector, with an emphasis on generation, where there is seen to be substantial potential for solar energy, both in large centralized projects and in small distributed plants.

Stilwell acknowledged that the market for power plants is becoming increasingly challenging for launching new energy generation ventures currently, especially due to pressure in the supply chain; however, he asserted that EDP has not faced such issues in its projects in Brazil. The executive also stated that the company might divest some hydropower plants that have partnerships with China Three Gorges Corporation (CTG) and Elebtroas, but emphasized that there is no rush.

EDP Highlights Brazil as an Important Route for Its Global Investments in the Energy Sector and Evaluates Green Hydrogen Plant

EDP, Portuguese Energy Company, Is Planning to Make Billion-Dollar Investments in the Green Hydrogen Sector and Has Already Set Sights on Germany as Its Main Client.

EDP Announced Investments of R$ 30 Billion in Green Hydrogen

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

Brazil Can Produce Green Hydrogen at Affordable Prices for Other Countries

EDP Seeks to Expand Its Traditional Business in Brazil

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EDP Highlights Brazil as an Important Route for Its Global Investments in the Energy Sector and Evaluates Green Hydrogen Plant

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Bokashi, a Japanese technique of controlled fermentation, becomes the organic fertilizer that revitalizes the soil: it activates microorganisms and earthworms, improves pH and moisture retention, gradually releases nutrients, and helps prevent pests in the garden.

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