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EDP, a Portuguese energy company, is planning to make billionaire investments in the green hydrogen sector and is already targeting Germany as its main customer.
EDP will maintain Brazil as an essential route for its global investments in the energy sector, even after closing the capital of its local subsidiary, and evaluates new bets linked to the energy transition, with a new green hydrogen plant focused on exporting to Europe, mainly to Germany, according to information from the global CEO of the Portuguese company.
EDP announces investments of BRL 30 billion in green hydrogen
Last week, the electric company carried out the auction for the purchase of shares to distill EDP Brasil from B3, in an initiative that moved 4,4 billion reais and increased the controlling group's share of 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 business structure and boost business growth in Brazil, where the EDP group operates with two platforms, its integrated energy business subsidiary and the EDP Renewables, which creates and operates large renewable power 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, with a focus on ensuring that these two platforms worked as closely together as possible.
At the same time, the company has already started to explore new fronts in the national market and observes good conditions to advance with a new project of green hydrogen production, a fuel considered important for the energy transition of sectors that are difficult to decarbonize, with Germany as its main customers, for example.
Brazil can produce green hydrogen at an affordable price for other countries
The executive claims that the company is participating in a green hydrogen auction in Germany, which would be to have an industrial project in the country and export. However, Stilwell did not provide details on production capacity and potential investments.
The venture should involve an EDP consortium, which would supply the sustainable energy needed to produce green hydrogen, with companies specialized in other areas, such as chemistry and gas transport. A country like Brazil, which has all these natural resources for renewable energy, manages to produce green hydrogen very cheaply.
Referring to an already operational pilot project by EDP in the Ceará complex, the executive stated that the first hydrogen molecule in Latin America was produced near its Pecém plant. Germany is leading Europe's first auction of green ammonia, a derivative of renewable hydrogen. The bidding presents itself as an important opportunity for projects in the country, since it will only buy renewable fuel produced outside the countries of the European Union.
EDP seeks to expand its traditional business in Brazil
In addition to investments in green hydrogen for export to Germany, EDP also focuses on expanding its business in the traditional segments of the Brazilian electricity sector, focusing on the generation area, where great potential is seen for the source of solar energy, both in large centralized projects and in small distributed plants.
Stilwell recognized that the market for power plants is increasingly challenging to launch new energy generation ventures today, mainly due to pressure on the supply chain, however he says that EDP has not had problems of this nature in projects in Brazil. The executive also stated that the company may dispose of some hydroelectric plants that it has a partnership with the China Three Gorges Corporation (CTG) and Elebtroas, but he stressed that he is not in a hurry.
