Fusion Fuel has received confirmation from the Portuguese government that it will receive an estimated €10 million grant as part of Component 14 (C-14) of the Portuguese Recovery and Resilience Plan to develop its 6.6MW HEVO-Industria green hydrogen project in Sines, Portugal.
C-14 is focused on accelerating the energy transition by supporting the production of hydrogen and other renewable gases.
The HEVO-Industria project, which is expected to take FID in the first half of 2023 and requires €25 million of capital investment, consists of 300 HEVO-Solar units along with a hydrogen refuelling station and associated balance of plant to support local industry and will produce an estimated 764 tonnes of green hydrogen per annum.
The facility will be equipped with Fusion Fuel’s HEVO-Night solution, which will enable the production of green hydrogen by HEVO-Solar generators overnight or during periods of low solar irradiation.
HEVO-Industria is one of several projects focused on building out the hydrogen mobility backbone in Iberia, headlined by our Exolum project currently being built in Madrid.
Pedro Caçorino Dias, Head of Commercial for Portugal, said, “This is a tremendous accomplishment for Fusion Fuel, one which further strengthens our partnership with, and commitment to, the country’s growing hydrogen ecosystem. Our €10 million grant was the largest single-project grant awarded in the application.”
Joao Wahnon, Fusion Fuel’s Head of Business Development, said, “We continue to be amongst the foremost pioneers of green hydrogen in Portugal and are excited to add the HEVO-Industria project to our existing portfolio of projects in active development in Portugal, with HEVO-Sul in Sines and our two Evora projects.”
Zach Steele, Fusion Fuel Co-Head, said, “Our ability to deploy decentralized, small-scale green hydrogen production commercially and co-locate it with refuelling stations is a meaningful competitive advantage at a time when the scale is viewed as the only way to drive down cost.”