Green hydrogen and Brazil’s expectations in the European market.
Considered a solution to combat the greenhouse effect and climate change, green hydrogen has become popular around the world. It is a form of hydrogen produced through a water electrolysis process powered by renewable energy sources such as solar, wind or hydroelectric power. The name “green” comes precisely to indicate the sustainable factor of this type of hydrogen.
The popularization of hydrogen promises to reduce dependence on fossil fuels in different countries and contribute to the reduction of carbon emissions.
Luana Gaspar, Head of Decarbonization and ESG at PSR said:
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It is a market that is still being formed and Brazil has a strategic position in it.
“On the one hand, we have Europe, one of the main markets for low-carbon products, due to government and private initiatives to achieve its goal of reducing emissions by 2050. On the other hand, we have Brazil, with a mostly clean electrical matrix and a great capacity to invest in different types of renewable energy on a large scale”.
“The export of green hydrogen to Europe would further enhance Brazil’s name in the global energy sector, bring economic benefits and attract new investments in the country’s green economy, which would boost our reindustrialization in a sustainable manner”.
For Brazil to become a powerhouse in the green hydrogen market in Europe, it will be necessary, on our side, to maintain the mostly renewable electrical matrix and boost investment in the generation of clean energy in the country. On the consumer side, European government measures to allow the formation of longer-term contracts and the purchase of a product that is still more expensive than fossil hydrogen, such as the H2Global auction, are ideal for developing this market.
“Within Brazil, we have to improve the infrastructure, both for the production of green hydrogen and derivatives, such as ammonia and methanol, as well as for storage and transport. In addition, other challenges must also be overcome, such as the high price of production of green hydrogen, the lack of clarity in the regulation for the production and use of hydrogen and derivatives, and the high competitiveness of the foreign market, bearing in mind that Brazil is not the only one wishing to export to the European market”, comments Gaspar.
The possible partnership between Brazil and the “old continent”, would not only bring benefits to the countries involved, but would also be a stimulus for the global energy transition and for the reduction of carbon emissions in the atmosphere.
Green hydrogen and Brazil’s expectations in the European market, August 12, 2023
