Madrid-Based Company FRV Announces Plans to Develop Green Hydrogen Project in Brazil
06.21.2024 By Tank Terminals - NEWS

June 21, 2024 [Bioenergy Times]- FRV, a renewable energy development company based in Madrid and part of the Saudi group Jameel Energy, has unveiled plans to establish a 2 GW green hydrogen project at the Pecem Industrial and Port Complex (CIPP) in Ceara, Brazil.

 

Several companies, including FRV, have already inked agreements with the Ceara government to produce green hydrogen and its derivatives within the state. FRV’s H2 Cumbuco project will primarily focus on producing green ammonia for export, targeting markets in Europe and Asia. The company intends to invest approximately BRL 27 billion ($5 billion) in the initiative, which is anticipated to generate 1,500 jobs during construction and over 200 jobs during operations. H2 Cumbuco aims to achieve a total capacity of 2 GW.

In its initial phase, budgeted at BRL 7 billion, the project will feature 500 MW of electrolyzers capable of producing 400,000 tons of ammonia annually. The subsequent phase, requiring an additional BRL 20 billion investment, will scale up to 2 GW of electrolyzer capacity, increasing ammonia production to 1.6 million tons per year.

Manuel Pavon, FRV’s General Director for South America, indicated that construction of H2 Cumbuco is projected to commence in 2027, with operations slated to commence between 2029 and 2030. Pavon highlighted the strategic selection of the Port of Pecem due to its advantageous access to U.S. and European markets.

 

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