Canadian renewable energy company Neogreen Hydrogen and Portuguese developer of photovoltaic solar parks Frequent Summer announced on 11 November plans to invest more than 1 billion US dollars in a green hydrogen plant in Portugal.
The plant will be built in the port city of Sines, 150 km south of Lisbon, and will include a 500-megawatt electrolyzer to produce green hydrogen and derived fuels.
The companies did not specify a timeframe for the investment nor when hydrogen production would start.
NeoGreen Hydrogen Corp. chief executive Chris Corson said that “having a project in the heart of the European Union, which will be one of the main hubs of demand for hydrogen in the coming years, is strategic for us as a company.”
Portugal is positioning itself as a major producer and exporter of green hydrogen with 70 private investors or groups planning to spend $10 billion, the environment minister said.