Eletrobras Sees Brazil as a Prominent Hub for Green Hydrogen Production, the Fuel of the Future

Written by Valdemar Medeiros

Published on 16/07/2023 at 10:16

Foto: Hydrogen HS/Reprodução

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Eletrobras, A Giant Company in the Energy Sector, Was Privatized Last Year and Has Already Announced Investment Plans in Green Hydrogen, The Fuel of the Future.

In its first Investor Day held since the company’s privatization last year, Eletrobras claims to be interested in the green hydrogen market, an essential fuel for the energy transition. The company sees that Brazil has competitive advantages for the production of this fuel, and that Eletrobras’s large renewable energy generation park positions the company as a potential relevant player.

Capital Allocation Will Be a Challenge for the Company

In a press conference, Eletrobras CEO Wilson Ferreira Júnior highlighted that the company is analyzing entering new markets, such as the Green Hydrogen market. However, he stated that capital allocation will be a significant challenge for the company, given the large number of profitable opportunities in the market.

The executive states that Eletrobras must be very focused and disciplined to seize the opportunities. XP Investimentos emphasized this point among all the news brought by Eletrobras to investors, stating that there is a chance for the company to become a competitive energy supplier for the production of the fuel of the future.

ARTICLE CONTINUES BELOW

Eletrobras Continues Investing in Nuclear Sources

In addition to the potential entry into the fuel of the future market, Eletrobras announced last week, during an event for investors, that the start of operations for the plant has been postponed by another year and is now scheduled for June 2029. Although it has been privatized, Eletrobras remains a partner of Eletronuclear and has already made several investments in the construction of Angra 3.

Eletrobras also stated that the new budget for the project will be defined later this month. The price of the energy generated by the plant will be announced by March next year, when the selection of the EPC company for the completion of the construction will also take place.

It is worth noting that construction is currently underway on the acceleration plan for the Critical Path to expedite work on some parts of the plant, such as the completion of the concrete superstructure of the reactor building.

With German technology, Angra 3 is expected to generate 12 million MW per year, enough energy to supply the residential consumption of the entire northern region and almost the entire Central-West region of the country. The combined generation of Angra 1, 2, and 3 is expected to account for 60% of the energy consumption in the state of Rio de Janeiro.

Brazil Receives R$ 13 Billion in Investments in the Green Hydrogen Market

The first viable green hydrogen project in Brazil will be in Rio Grande do Norte, which will make investments of R$ 13 billion and promises to reduce about 1 GW. The project will be installed in Vale do Assu, onshore, utilizing wind and solar energy, with 70% and 30% respectively.

The investments for the project of the fuel of the future will come from Nordex Acciona, in partnership with Vieira, a local group with a long history in the medical field.

Eletrobras Sees Brazil as a Prominent Hub for Green Hydrogen Production, the Fuel of the Future

Eletrobras, A Giant Company in the Energy Sector, Was Privatized Last Year and Has Already Announced Investment Plans in Green Hydrogen, The Fuel of the Future.

Capital Allocation Will Be a Challenge for the Company

Eletrobras Continues Investing in Nuclear Sources

Brazil Receives R$ 13 Billion in Investments in the Green Hydrogen Market

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Eletrobras Sees Brazil as a Prominent Hub for Green Hydrogen Production, the Fuel of the Future

Eletrobras, A Giant Company in the Energy Sector, Was Privatized Last Year and Has Already Announced Investment Plans in Green Hydrogen, The Fuel of the Future.

Capital Allocation Will Be a Challenge for the Company

Eletrobras Continues Investing in Nuclear Sources

Brazil Receives R$ 13 Billion in Investments in the Green Hydrogen Market

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