On Thursday, April 6, ENGIE Brasil Energia (EGIE3) signed a Memorandum of Understanding with Invest Paraná for developing large scale green hydrogen projects in the state of Paraná, seen as an important element in the energy transition. Obtained through a process of electrolysis using renewable power sources, green hydrogen, or its derivatives has the capacity to replace the use of fossil fuels in carbon intensive industries as well as being exportable, thus opening up opportunities on this front for Brazil.
“ENGIE’s global strategy is to create a strong green hydrogen position, and Brazil is key to this end, given the relevance of the Group’s local operations, a predominantly renewable energy matrix, and the abundance of natural resources thus permitting the electric energy sector’s growth,’’ Eduardo Sattamini, ENGIE Brasil Energia’s Chief Executive and Investor Relations Officer pointed out. “We believe that these partnerships are crucial for incentivizing and accelerating the energy transition and we look to play a leading role in de-carbonization solutions for a range of different industries and their respective supply chains,” said Sattamini.
The Company’s view is in line with the state of Paraná’s strategy for renewable energies, lending additional support to the agreement. ENGIE Brasil Energia also has signed agreements in the state of Ceará for the development of hydrogen plant studies and projects up to 150 MW at a preliminary stage and with a potential to expand by the end of the decade focused on the export of the green hydrogen molecule or its derivatives. Globally, the intention of the ENGIE Group is to ramp up production of green hydrogen to 4 GW by 2030.