Casa dos Ventos, Comerc to co-develop green hydrogen projects in Brazil

Image by stock.adobe.com/leestat. All Rights Reserved.

November 8 (Renewables Now) - Brazilian developer Casa dos Ventos Energias Renovaveis has partnered up with local electricity trader Grupo Comerc Energia to co-invest in the development of green hydrogen projects In Brazil.

Casas dos Ventos said on Friday that the partners expect to invest over USD 4 billion (EUR 3.5bn) in green hydrogen projects in the next ten years, targeting both domestic demand and exports.

Comerc, which entered the agreement through its energy efficiency company Nexway Eficiencia, and Casa dos Ventos already mapped areas to develop projects in at least four Brazilian states.

The partnership also seeks to develop a hydrogen distributed generation (DG) project by setting up producing plants at the companies’ industrial sites, Casa dos Ventos said.

Brazil is well positioned to produce competitive green hydrogen due to its abundance of wind and solar resources, among other factors, said the company, adding that the sector's estimated value -- between USD 15 billion and USD 20 billion annually until 2040 -- is what prompted the partners to act.

(USD 1.0 = EUR 0.868)

Join Renewables Now's free daily newsletter now!

More stories to explore
Share this story
Tags
 
About the author
Browse all articles from Lucas Morais

Lucas is based in Brazil. He joined Renewables Now to expand coverage of the Ibero-American market, a highly attractive destination for green energy investment.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription
\