NeoGreen Portugal, a Portuguese-Canadian joint venture between NeoGreen Hydrogen Corp. (Canada) and Frequent Summer Lda., (Portugal), will next Monday (11/14/2022) sign a land use rights reservation contract for 10.5 hectares at ZILS – Zona Industrial a Logística de Sines, to invest more than 1 billion euros in the setting up a ‘green’ hydrogen facility, in a ceremony presided over by His Excellency the Portuguese Secretary of State for Internationalization, Mr. Bernardo Ivo Cruz.
NeoGreen Hydrogen Corp., a company dedicated to the production of Green Hydrogen and Green Fuels, is investing in Portugal through its joint venture with Frequent Summer, Lda, a company whose founders and team members have been developing photovoltaic parks for over 20 years in several countries.
NeoGreen Portugal plans to invest more than one billion euros in Sines for a 500MW+ electrolyser project, to produce ‘green’ hydrogen and derivative fuels.
The Secretary of State for Internationalization, Bernardo Ivo Cruz, highlights that “This project embodies the National Strategy for Hydrogen, of creating a Sines Hydrogen Valley, implementing the Government’s commitment to developing the Portuguese economy to developing the Portuguese economy by advancing the twin energy and digital transitions.”
The official also stresses that “Sines is currently consolidating or attracting investments in Logistics, Industry & Energy and Telecommunications from around the globe: Portugal, Spain, France, Italy, Germany, Switzerland, Netherlands, Denmark, Poland, Sweden, United Kingdom, Ireland, Thailand, Singapore, Malaysia, China, Australia, Brazil, USA, and of course Canada.”
Chris Corson, Executive Chairman, of NeoGreen Hydrogen Corp., commented that “NeoGreen Hydrogen has a portfolio of Green Hydrogen projects around the world and is particularly excited by its joint venture with Frequent Summer. Having a project in the heart of the EU, which will be one of the key demand centers for hydrogen in the years ahead, is strategic for us as a company and we look forward to building out this opportunity alongside our partners at Frequent Summer.”
Rogério Ponte, Member of the Board of Directors of Frequent Summer, commented that “Having been in the development of renewable energies since 2002, namely photovoltaic energy, which today is an undeniable reality, it is the continuation of the commitment to innovation and the future of Energies Renewables and sustainability that this huge H2V project represents for the Sines region and for Portugal.”
Filipe Costa, CEO of aicep Global Parques, managing body of ZILS, states that “This prospective investment of one billion euros by NeoGreen in the Sines Port, Logistics and Industrial Complex is part of a projects pipeline totalling around €20B in investment over the next ten years: €2,500MM in sea and land logistics; €12,500MM in decarbonised and circular industrial projects; and €5,000MM in telecommunications, submarine cable landing stations and data centres.”
2022-11-01€ 1,040 mln at ZILS - Sines Industrial and Logistics Zone (PT)
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