Canadian renewable energy company NeoGreen Hydrogen and Portuguese developer of solar PV parks Frequent Summer have announced that they plan to invest €1 billion in a green hydrogen plant in Portugal.
The companies said in a statement that the plant will be built in the port city of Sines, 150 km south of Lisbon. The plant will include a 500 MW electrolyser to produce green hydrogen and other fuels.
The Portuguese government will make 10.5 hectares of land available to install the plant. The companies have not specified a time frame for either the investment nor when hydrogen production would start.
Chris Corson, Chief Executive of NeoGreen Hydrogen, said: “Having a project in the heart of the EU, which will be one of the main hubs of demand for hydrogen in the coming years, is strategic for us as a company.”