Green Energy Park has signed a definitive agreement for US$30m in Series-A funding and has obtained the long-term rights to the hydrogen port terminal facilities in Luis Correia, Brazil, as part of the developer’s target of building an 11GW hydrogen production plant, one of the largest in the world.
The developer said the initial funding round underscores the strong interest among a broad range of strategic partners, global offtakers, and financial institutions to commit the resources for building the world-scale hydrogen production and integrated port terminal facilities in Piaui, Brazil.
Green Energy Park (GEP) was founded in 2023 with the purpose of producing renewable hydrogen in the most cost competitive locations with an initial focus on the north-east of Brazil. GEP will distribute its green fuels to offtakers in industry and transport with a mission to help decarbonize the hard-to-abate sectors of the economy.
Green Energy Park Piaui is the company’s first hydrogen production plant, targeting 10.8GW of electrolyser capacity when fully built. The integrated hydrogen and hydrogen derivatives production facilities feature some of the most advance process engineering designs from the liquified natural gas and ammonia business, said the developer.
“The world is at risk of falling behind its climate goals,” said GEP chief executive Bart Biebuyck (above right).
“The urgency to act is now. Despite the many efforts and programs to arrest climate change, emissions from fossil fuels, including coal, oil, and gas, have reached a new record in 2023.
“To achieve net zero carbon emissions by 2050, we need to install 6000GW of electrolyser capacity around the world. This is a monumental task.
“The good news is that it can be done. It is not too late to act. But we must act now!
“Therefore, at Green Energy Park, we are on a singular mission: To produce the lowest-cost renewable hydrogen at the gigawatts scale.
“To achieve our ambitious goal, we combine cutting-edge hydrogen production technologies, with innovative process engineering solutions, at one of the most advantageous sites for renewable hydrogen production in the world, in the State of Piaui, Brazil.
“In short, Piaui is set to become our ground zero of the hydrogen revolution. Therefore, we are incredibly proud of our strong partnership with the State of Piaui on this critical mission.”
Investe Piaui chief executive Victor Hugo Almeida (above left) said: “The State of Piaui offers some of best conditions in the world for producing green hydrogen.
“The State government and the Governor Rafael Fonteles (above centre) are fully committed to unlocking the great potential of our unique natural resource endowment to the benefit of our citizens, the climate, and indeed the world.
“Green Energy Park provides our state with a tremendous opportunity for a bright future. The world-scale hydrogen project will create thousands of high-quality jobs in our state and will accelerate a green industrialization of our economy.
“We want to attract international businesses to build a world-scale hydrogen cluster by creating a favourable investment environment with strong support by the State of Piaui.
“Therefore, we are implementing an innovative approach for a green industrialization of our country, for others to follow in Brazil and beyond.
“We are incredibly proud that Green Energy Park has chosen Piaui to implement the most advanced hydrogen production facility in the world. The government will fully support the undertaking and is well prepared to help this global flagship project to succeed.”