Piauí Becomes A MECA Of Green Hydrogen: European Company Announces Investment Of R$ 50 Billion To Build The World’s Largest H2V Project!

Written by Valdemar Medeiros

Published on 16/10/2023 at 18:03

Foto: Rafael Fonteles, governador do Piauí ao lado de representes da Green Energy Park/Divulgação

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Piauí to Receive R$ 50 Billion in Investment to Produce Green Hydrogen – Considered the Fuel of the Future. The Investment Will Come from Green Energy Park, and the Initial Production Expectation Is 5 GW per Year.

To make an investment of R$ 50 billion in the production of green hydrogen, considered the fuel of the future, the European company Green Energy Park has signed an agreement with the Government of Piauí. This agreement provides for the studies to construct a green hydrogen park in Parnaíba and an initial production of 5 GW of green ammonia per year. This is the largest green hydrogen project in the world!

Piauí Has Advantages to Lead the Global Green Hydrogen Market

According to the government of Piauí, Green Energy Park Will Leverage the Structure of the Port of Luís Correia to Export the Fuel of the Future produced in the form of ammonia through the Export Processing Zone, the ZPE of Piauí.

The raw material produced by the company will supply industries in Europe. The agreement between the company and the state government for the investment was signed last Wednesday (11) during the World Hydrogen Congress held in the Dutch city of Rotterdam. For Rafael Fonteles, governor of Piauí, finalizing the agreement positions the State as a leader in the global green hydrogen market.

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Agreement Provides for Initial Investment of R$ 50 Million

Nathalia explains that the state has a great solar and wind potential, the cost of electricity, and an abundance of water. This attracts various investors in the sector. Additionally, it also has the support of the Government, which acts in reducing bureaucracy.

The agreement signed with Green Energy Park provides for an initial investment of 10 billion euros, equivalent to R$ 50 billion, and construction is expected to start in 2024 with a completion date of two years.

The fuel of the future will leave Piauí by sea and arrive at the Port of Krk in Croatia, where Green Energy Park is based. Company executives will come to Piauí in November this year to carry out the necessary studies to start the project.

Piauí Ranks Third with the Highest Renewable Production

In July, Piauí held the third position in the national ranking for the production of wind and photovoltaic energy, according to a report released by the National Electric Energy Agency (Aneel) in June. In the solar energy production, in the centralized generation mode, which includes large plants, the state’s production is 1.4 GW in operation, in addition to 857.22 MW under construction, with a forecast to generate more than 13.14 GW.

Regarding the distribution of solar energy, the state has 46,416 micro and mini-plants in 220 municipalities, resulting in a total of 365.74 MW in operation. For wind energy generation, according to Aneel’s bulletin, Piauí is ranked just behind the states of Rio Grande do Norte and Bahia. In this sector, the state currently produces 3.5 GW in operation and has an additional 746.10 MV under construction, with a forecast to produce 2.5 GW in operations that are yet to be built.

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Piauí Becomes A MECA Of Green Hydrogen: European Company Announces Investment Of R$ 50 Billion To Build The World’s Largest H2V Project!

Piauí to Receive R$ 50 Billion in Investment to Produce Green Hydrogen – Considered the Fuel of the Future. The Investment Will Come from Green Energy Park, and the Initial Production Expectation Is 5 GW per Year.

Piauí Has Advantages to Lead the Global Green Hydrogen Market

Agreement Provides for Initial Investment of R$ 50 Million

Piauí Ranks Third with the Highest Renewable Production

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Piauí Becomes A MECA Of Green Hydrogen: European Company Announces Investment Of R$ 50 Billion To Build The World’s Largest H2V Project!

Piauí to Receive R$ 50 Billion in Investment to Produce Green Hydrogen – Considered the Fuel of the Future. The Investment Will Come from Green Energy Park, and the Initial Production Expectation Is 5 GW per Year.

Piauí Has Advantages to Lead the Global Green Hydrogen Market

Agreement Provides for Initial Investment of R$ 50 Million

Piauí Ranks Third with the Highest Renewable Production

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