RCS - Green Energy Park - Green Energy Park and Eletrobras Sign Agreement
14/05/2024 12:45
For best results when printing this announcement, please click on link below: http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240514:nRSN3769Oa&default-theme=true RNS Number : 3769O Green Energy Park 14 May 2024 Green Energy Park and Eletrobras Sign Agreement to Collaborate in Renewable Hydrogen Production in Brazil Green Energy Park (GEP) is implementing one of the largest climate impact undertakings in the world. Eletrobras is the leading power utility and transmission company in Latin America, and one of the largest clean energy companies in the world. Together the companies have signed a Memorandum of Understanding (MoU) with the objective of achieving cost and technology leadership in the production of renewable hydrogen and hydrogen derivatives in Brazil. Elio Wolff (Eletrobras, left), Italo Freitas (Eletrobras, middle) and Bart Biebuyck (GEP, right) signing the MoU in Rotterdam, the Netherlands Brazil offers some of the best natural conditions for producing renewable hydrogen in the world. The collaboration between GEP and Eletrobras combines hydropower electricity resources of more than 10 Gigawatts, available for renewable hydrogen production at Eletrobras, with a unique hydrogen and hydrogen derivatives production platform, designed and implemented by Green Energy Park. To achieve cost leadership in renewable hydrogen, base-load hydroelectric power will enable the deployment of state-of-the-art electrolyzers technologies, implemented on a standardized production infrastructure, including purpose-built export terminal facilities. The integrated hydrogen production platform features some of the most advanced process engineering designs from the liquified natural gas and ammonia business. Green Energy Park has deep engineering and EPC expertise in the field of world-scale cryogenic gas handling and storage, which is combined with its dedicated industrial construction implementation capabilities. As a vertically integrated renewable energy company, GEP will distribute green fuels to offtakers in industry and transport with a mission to help decarbonize the hard-to-abate sectors of the economy. Bart Biebuyck, CEO of Green Energy Park said: "We are incredibly proud to announce this significant milestone in our journey to build a strong coalition for achieving our climate goals. Renewable electricity is the cornerstone of our green hydrogen production process, and we are delighted to have it secured from Eletrobras, a company that stands out as the dominant player in Brazil's energy infrastructure. The availability of hydropower at the gigawatts scale from Eletrobras is a critical component in our mission to achieve cost leadership in renewable hydrogen. Together we are looking forward to the positive impact this collaboration will have on our efforts to build and accelerate the hydrogen economy in Brazil and around the world." Ivan de Souza Monteiro, CEO of Eletrobras said: "We, at Eletrobras, are working to offer innovative solutions for the electricity sector as a way of promoting the energy transition process, always aiming for a more sustainable future. As leaders in the generation and transmission of electrical energy in Brazil, we must contribute not only to improving our country matrix, but the world, so that the sources are increasingly cleaner and renewable. With this important partnership, we are aligned with the strategy of contributing to the decarbonization of the economy and energy security." About Green Energy Park Green Energy Park Global is a vertically integrated, renewable energy franchise, that shares know-how, technologies, experience, and best practices between its global partners. The focus is on leading hydrogen technology applications with ammonia and methanol as the renewable energy carriers of choice. The company's objective is to develop, finance, build, and operate renewable energy facilities under a common brand. GEP seeks to unite upstream, midstream, and downstream facilities around shared values and a common mission. GEP's mission is to engineer and build a "Global Standard" for large-scale hydrogen and hydrogen derivatives production, powered by renewable energy sources. To achieve cost leadership in renewable hydrogen the company combines cutting-edge electrolyzer technologies with a purpose-build and standardized production infrastructure. Green Energy Park's purpose is to positively impact society by accelerating the energy transition and make the hydrogen economy a reality. About Eletrobras Eletrobras is Latin America's largest power utility company and one of the largest clean energy companies in the world. Eletrobras will use part of the energy produced by its more than 30 hydroelectric plants throughout Brazil for the production of renewable hydrogen, deploying a power source that is more stable than wind or solar. The company is developing decarbonization projects as part of a dedicated division which will deploy more than 10 Gigawatts of hydroelectric power to deliver renewable hydrogen at competitive costs. General Enquiries: media@gep-global.com (mailto:media@gep-global.com) Investor Relations: Mario Reinisch, CFO | mario@gep-global.com (mailto:mario@gep-global.com) SOURCE: Green Energy Park This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com (mailto:rns@lseg.com) or visit www.rns.com (http://www.rns.com/) . 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