The development can be recognized by the increasing investments. For example, Brazil will now spend $ 5.4 billion to build a green hydrogen production facility. It is planned in Ceará (about 60 km north of Fortaleza) in an industrial and port area.
The plant is being built not only to supply the region, but also to export hydrogen. More and more countries with favorable geographical locations see this as a great opportunity to earn a lot of money in the future. Brazil can produce large amounts of both wind and solar power.
The president of the industrial association of the federal state of Ceará Ricardo Cavalcante even sees the region as the world’s leading green hydrogen producer in the future.
2. Plug Power with new hydrogen cooperation
Plug Power stocks are benefiting from the hydrogen boom, but have risen sharply recently. For this reason they are correcting now. Nevertheless, the company expects sales to rise sharply in the next few years.
Most recently, it entered into a strategic alliance with Air Water subsidiary Taylor-Wharton America. It will supply Plug Power with the tanks that the company needs in the USA for storage and for setting up a hydrogen network. Taylor-Wharton will also offer leasing solutions for the tanks.
Plug Power plans to produce and sell almost 50 tons of green hydrogen by 2022 and as much as 500 tons by 2025.
3. Plug Power and Acciona establish joint venture
Plug Power and Acciona would like to jointly supply Spain and Portugal with green hydrogen in the future. To do this, they will set up a 50-50 joint venture company in Madrid. It is to develop and operate corresponding projects and start operations by the end of June 2021.
The Spanish conglomerate Acciona will provide the required energy as part of the cooperation, while Plug Power will bring in its electrolyser technology.
Plug Power and Acciona want to achieve a market share of 20% in the production of green hydrogen on the Iberian Peninsula by 2030. Storage and delivery services are also to be offered.
“This joint venture is another important milestone and the consistent implementation of Plug Power’s strategic goals. In this way, we can build up a strong market position in the rapidly growing European hydrogen economy, ”commented Plug Powers CEO Andy Marsh.
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