- NeoGreen Portugal will sign a land use rights reservation contract for 10.5 hectares at ZILS on 11/14/2022.
- The project involves a €1 billion investment in a 500MW+ electrolyser to produce green hydrogen.
- The initiative supports the National Strategy for Hydrogen and aims to create a Sines Hydrogen Valley.
- The investment is part of a €20 billion projects pipeline over the next ten years.
Project Overview
NeoGreen Portugal, a joint venture between NeoGreen Hydrogen Corp. (Canada) and Frequent Summer Lda. (Portugal), will sign a land use rights reservation contract for 10.5 hectares at ZILS – Zona Industrial a Logística de Sines on November 14, 2022. The project involves an investment of over €1 billion to establish a green hydrogen facility.
Investment and Infrastructure
The facility will feature a 500MW+ electrolyser to produce green hydrogen and derivative fuels. This investment is part of a broader €20 billion projects pipeline over the next decade, which includes €2.5 billion in sea and land logistics, €12.5 billion in decarbonized and circular industrial projects, and €5 billion in telecommunications, submarine cable landing stations, and data centers.
Government Support
The project aligns with the National Strategy for Hydrogen, aiming to create a Sines Hydrogen Valley. The Portuguese Secretary of State for Internationalization, Bernardo Ivo Cruz, emphasized the government's commitment to advancing the twin energy and digital transitions, highlighting Sines as a hub for global investments in logistics, industry, energy, and telecommunications.
Strategic Importance
Chris Corson, Executive Chairman of NeoGreen Hydrogen Corp., noted the strategic importance of having a project in the EU, a key demand center for hydrogen. Rogério Ponte, Member of the Board of Directors of Frequent Summer, highlighted the continuation of their commitment to renewable energy and sustainability through this significant H2V project.
