Brazil’s Port of Pecém secures $100M investment for Green Hydrogen Hub

The Brazilian Ministry of Development and Foreign Trade, with funding from the World Bank, will finance the establishment of a green hydrogen hub at the Port of Pecém, according to local authorities.

In a statement, the government of the state of Ceará (northeastern Brazil) indicated that $90 million (approximately €84 million) will be provided through the Ministry’s External Financing Commission for the green hydrogen hub at the Port of Pecém.

An additional $10 million will come from the port’s funds, resulting in a total of $100 million to be used for the “required infrastructure” to accommodate predominantly international enterprises at the green hydrogen hub.

The Port of Pecém, located in the metropolitan region of Fortaleza, the capital of Ceará, leads green hydrogen projects in South America.

In this regard, the future green hydrogen hub at Pecém has 32 memorandums of understanding signed with companies from Brazil, France, Portugal, Spain, Australia, the United States, and Italy.

These 32 memorandums encompass investments of $30 billion, with three of them already committed at $8 billion.

Furthermore, the Ceará government recently presented the regional bill for the Green Hydrogen Policy to the local legislative assembly and joined the Renewable Green Hydrogen Pact promoted by the two largest business associations in the sector.

Green or renewable hydrogen (H2V) is produced through the “electrolysis of water” process, which separates oxygen and hydrogen, primarily used for producing fertilizers for agricultural activities.

This resource, one of the essential elements for the production of a specific product or service, can also be used as fuel and industrial raw material for pharmaceuticals. In this regard, other projects will be carried out by the private sector in the states of Bahia (northeast) and Rio de Janeiro (southeast).

Source: Green Savers

To read the original news report, see: https://greensavers.sapo.pt/brasil-preve-financiamento-do-banco-mundial-para-polo-de-hidrogenio-verde-no-porto-de-pecem/

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