EDPR has entered into an agreement with the French green hydrogen player Lhyfe to jointly identify, develop, build, and manage renewable hydrogen production projects.
EDPR will supply renewable electricity to Lhyfe’s hydrogen generation projects.
In addition, the two companies will identify opportunities for the co-development of projects, with EDPR’s shareholding potentially reaching up to 50% of the projects’ capital.
The companies will also work together on R&D activities, new project development and equipment procurement.
This agreement “envisages to create value, leveraging synergies” from the complementary skills and capabilities of the two companies, boosting the growth of EDPR’s portfolio, especially in France, and contributing to the development of Lhyfe’s projects worldwide.
EDP and EDPR chief executive Miguel Stilwell d’Andrade (pictured) said: “We are pleased to have closed this important agreement with Lhyfe as part of its IPO.
“We believe that renewable hydrogen can complement the direct electrification as the best means for reducing CO2 emissions and achieving the decarbonisation of the economy, including in the hard-to-electrify sectors.
“With this agreement with Lhyfe, we reinforce our commitment to the acceleration of the energy transition while also taking one step toward the achievement of our growth plans.”
This partnership with Lhyfe reaffirms EDP’s commitment to deploy 1.5GW of green hydrogen production capacity by 2030.
EDP’s projects include GreenH2Atlantic, a 100MW renewable hydrogen production project in Sines (Portugal) which is one of the three projects selected by the EU Green Deal Call to demonstrate the viability of green hydrogen production.
EDP is also promoting other projects in Spain and in Brazil.
Lhyfe has a portfolio of more than 4.8GW across 93 projects under development in Europe and plans to install 200MW by 2026 and 3GW by 2030.
Among these 93 projects, 20 are at an advanced stage of development, with a total capacity of 380.5MW expected to come onstream between 2023 and 2026.
In September 2021, Lhyfe inaugurated the world’s first industrial plant directly connected to a wind farm and a seawater supply enabling electrolysis.