NeoGreen Hydrogen’s joint venture with Portuguese company Frequent Summer has executed a Land Reservation Agreement for a power-to-x project in the Port of Sines.
The Land Reservation Agreement relates to over 10.5 hectares in the Sines Industrial and Logistics Zone (ZILS) where green hydrogen will be produced via electrolysis using the site’s own dedicated renewable solar and wind energy.
The site is sufficient to build an electrolysis production facility of 500MW.
The joint venture, NeoGreen Portugal, has been formed to co-develop a pipeline of early-stage green hydrogen projects across Portugal.
The green hydrogen facilities will be used to decarbonise hard-to-abate industries both domestically and in export locations in North-West Europe, using existing infrastructure at the ZILS and the Port of Sines.
The Government of Portugal has earmarked the Port of Sines to become the country’s Green Hydrogen hub, as the deep-water port enables easy maritime access to industrial centres across Europe, as well as direct connection to Portugal and Spain’s natural gas networks.
NeoGreen Portugal is conducting scoping studies and its aim is to produce first hydrogen from its ZILS site before 2027.
Chris Corson, Executive Chairman of NeoGreen Hydrogen, said: “NeoGreen Hydrogen has a portfolio of Green Hydrogen projects around the world and is particularly excited by its joint venture with Frequent Summer.
“Having a project in the heart of the EU, which will be one of the key demand centres for green hydrogen in the years ahead, is strategic for us as a company and we look forward to building out this opportunity alongside our partners at Frequent Summer.
“Portugal, with its excellent and relatively low-cost renewable energy resources, is well-positioned to be a major player in Europe’s green hydrogen pathway, particularly as the key economic driver of green hydrogen production is the cost of the renewable energy input.”