Brazil – MME announces $1 billion in investments for decarbonizing the industry through hydrogen hubs
(TN) The Minister of Mines and Energy, Alexandre Silveira, announced the availability of approximately R$6 billion in investments for decarbonizing the industry through hydrogen hubs around the world. The initiative is in partnership with the Climate Investment Funds (CIF). The international fund will provide low-cost financing to leverage projects in the sector. The announcement was made at a parallel meeting of the Clean Energy and Innovation Mission (CEM-MI) Ministerial in Foz do Iguaçu (PR).
Silveira highlighted the importance of yet another international partnership, this time with the United Kingdom. A public hearing will be opened to receive low-carbon hydrogen projects.
The minister, said:
This action is a fundamental part of the National Hydrogen Program (PNH2), and is aligned with our three-year work plan 2023-2025.
“We want to consolidate low-emission hydrogen hubs in Brazil by 2035, taking advantage of our vast wealth of energy products and the creativity of our industrial sector,”
The selected project from several countries will be invited to present an Investment Plan and, if approved, will be eligible to receive financing.
According to the minister, the hubs will serve to integrate the production, storage and transportation stages, connecting different sectors of the economy.
The minister, concluded:
Structuring these hubs will allow us to meet not only local demand, but also become a competitive country in the global hydrogen scenario,
The public hearing seeks solutions that meet the eligibility criteria, aligned with the CIF objectives and focused on the decarbonization of difficult-to-abate industrial sectors. The selected proposals will have the opportunity to form part of Brazil’s investment plan to access financing, which may cover everything from engineering projects to the acquisition of equipment and working capital.
The event was attended by CIF CEO Tariye Gbadegesin and UK Climate Minister for the Department of Energy Security and Net Zero Kerry McCarthy.
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Brazil – MME announces $1 billion in investments for decarbonizing the industry through hydrogen hubs, source
