The company will invest USD 28.5 million in the plant, which will have an output of 800 tonnes of green hydrogen a year, placing it among South America’s largest such facilities.
Frustration has mounted over setbacks to hydrogen projects in Europe with recent news of projects put on hold
French energy giant TotalEnergies SE has put a multi-billion-dollar plan to produce green hydrogen with Adani Group on hold, pending audits of the Indian conglomerate accused of fraud by a U.S. investor.
As Europe races ahead with its hydrogen plans, many other parts of the world are looking to develop their own hydrogen markets. But IRENA warns that the expansion of the hydrogen market must be carried out strategically to ensure it supports the transition away from fossil fuels to renewable alternatives.