EU (European Union)  promises to provide USD 2 billion in financial assistance to the 10 GW GEP (Green Energy Park) project in Brazil. European Commission President Ursula von der Leyen on Monday stated that the European Union will provide support to develop one of the biggest green hydrogen projects in the world. The project is set to receive funds from the EU as well as its domestic government. The investment will be used to boost Brazil’s green hydrogen and green ammonia production capability.

Brazil is aiming to be one of the top ten producers of green hydrogen by 2030. GEP will export green hydrogen and green ammonia from Piaui to the import terminal on the Adriatic Island of Krk in Croatia, where it will be sold to industrial off-takers in Southeast Europe including industrial areas in Southern Germany and Northern Italy. 

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Earlier in June, the European Commission president met Brazil’s president to finalize the landmark USD 2.16 billion investment plan for GEP. The Brazilian project will be built in six stages at a projected cost of USD 13 billion. The first green hydrogen will be produced by 2028 and the project will reach its full capacity by 2035.

Details About Green Energy Park Brazil

Green Energy Park Piauí is a 10-gigawatt (GW) green ammonia production and export facility that aims to become one of the largest green ammonia production facilities in the world. The project will utilize renewable energy sources, such as solar and wind power, to produce zero-carbon ammonia for export to markets around the world. 

The Green Energy Park Piaui project is expected to produce up to 1 million tonnes of green ammonia annually. The ammonia will be exported to markets around the world, including Europe, Asia, and North America. The project is also expected to create thousands of jobs in Piauí and contribute to the economic development of the region.

GEP has partnered with several companies to develop the Green Energy Park Piaui project, including:

• Fortescue Metals Group (FMG): FMG is an Australian mining company that is investing in green hydrogen projects around the world.
• Plug Power: Plug Power is a US-based company that develops and manufactures hydrogen fuel cells.
• Equinor: Equinor is a Norwegian energy company that is involved in renewable energy projects around the world.

Project Timeline

• The first phase is expected to be operational by 2027
• The full project is expected to be operational by 2035

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