Portugal’s Prime Minister and the Minister of the Economy announced that the three projects submitted by Fusion Fuel to Component 5 of Portugal´s Recovery and Resilience Plan, one led by Fusion Fuel and the other two led by large Portuguese companies, were selected by the Agenda Coordination Commission to advance to the final negotiation of financing awards.
One of those selected is the “Sines Green Hydrogen Valley” project led by Fusion Fuel, with a total investment value of €160 million. This project, in the region of Sines, will require 3,600 HEVO-Solar units—equivalent to 90 MW of electrolyser capacity—to be installed from 2024 to 2026. The green hydrogen to be produced is expected to be used to decarbonise local industry and blend into the natural gas grid.
In addition, Fusion Fuel is included in two of the other selected projects. The Fusion Fuel component of these projects is approximately 7.5 MW of electrolyser capacity, requiring around 300 HEVO-Solar units, with installation planned for 2024 to 2025. The green hydrogen to be produced will be used for mobility and industrial applications. Fusion Fuel’s participation in these consortia underscores its strategic focus on the hydrogen mobility opportunity and builds on the integrated solution it has developed for on-site green hydrogen production and refuelling that it is building for Exolum in Madrid, Spain.
Joao Wahnon, Fusion Fuel’s Head of Business Development, said, “Last September a total of 146 projects were submitted to Component 5 and only five projects which involve the production of green hydrogen were selected for financing awards.”
Mr. Wahnon concluded, “We are thrilled to be a key player in Portugal´s energy transition and strategic push into the green hydrogen ecosystem. These Mobilising Agendas, coupled with Fusion Fuel´s disruptive technology, will contribute to making Portugal´s vision of being a leader in energy transition a reality.”