Shell to partner with Brazil's Açu to build green hydrogen plant

By Gram Slattery (Reuters) - Shell and Brazil's Porto do Açu have agreed to jointly build a green hydrogen plant, executives told Reuters, a deal that could result in the debut of the up-and-coming technology in South America's largest nation. Under the terms of a memorandum of understanding signed on Thursday and first disclosed to the news agency, the firms will build a 10-megawatt green hydrogen plant on the premises of Açu in Brazil's Rio de Janeiro state. The plant is due to be completed by 2025. Green hydrogen is a zero-carbon fuel made by using renewable power to split water into oxygen and hydrogen, increasingly promoted as a way to clean up emissions-heavy industries such as refining and agriculture. Açu, a massive industrial complex and port, is owned by Prumo Logistica SA, which is in turn controlled by U.S. private equity firm EIG Global Energy Partners. Two subsequent, optional phases in the project would bring production to 100 megawatts by 2029, under the terms of the memorandum. The first phase alone will likely require $20 million to $40 million in investment, a spokesperson for Shell wrote in an e-mail, warning that those values are subject to change. While several...

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