Voltalia looking at USD-3bn green hydrogen investment in Brazil

Voltalia do Brasil, a unit of French renewable power producer Voltalia SA (EPA:VLTSA), intends to develop a USD-3-billion (EUR 2.7bn) project to produce green hydrogen and ammonia in the Brazilian state of Ceara.

The state government announced on Monday the signing of a pre-contract with the Voltalia subsidiary with a view to implementing the project at the Pecem industrial and port complex (CIPP S/A).

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This is the sixth pre-contract signed in relation to the green hydrogen hub at Pecem and according to CIPP president Hugo Figueiredo more such pacts are expected to be signed later this year. This is in addition to the 36 memoranda of understanding (MoUs) that have already been entered into with local and foreign companies.

At present, Voltalia do Brasil operates more than 1,500 MW of wind and solar farms, mainly concentrated in Brazil's Northeast region.

(USD 1.0 = EUR 0.920)