Madoqua Renewables-led consortium Lisbon-MadoquaPower2X or MP2X has announced an increase in investment for manufacturing of green hydrogen and Ammonia production units from EUR1.3bn to EUR2.8bn in the Sines Industrial Zone at Portugal.
The project was announced on April 22, 2022 and is recognised by the national authorities. It has already completed several milestones.
The additional investment of EUR1.5bn is announced for Phase 2, making the project the largest in Europe. It will then surpass 1GW of green hydrogen production capacity.
The manufacturing of such green carriers shall generate sustainable economic growth and territorial cohesion. The production is labeled as sustainable as per latest European Union taxonomy.
The promoters of the project have already kept aside 59 hectares of land in Sines Industrial and Logistics Zone which is more than double the initial 25 hectares kept initially for the project said AICEP Global Parques CEO, Isabel Caldeira Cardoso.
The project shall enable Portugal to become a pioneer in implementing the above kind of projects.
MP2X’s Non-executive director Marloes Ras highlights the project’s ambition that is based on the eight-year strategic development plan.
The project’s first phase corresponds to the Portugal’s 20% national targets in the green hydrogen production at European level. It is an important element of the producer segment to feed into the Northwest Europe Hub energy receiver segment of the value chain.
The company MP2X is required to contribute to the autonomy in Europe in the field of energy and food (fertiliser) value chains through the hydrogen manufacturing and its consumption along with its commercialisation of green Ammonia.
The project’s phase 1 shall use 560 MVA of capacity to produce each year 50,000 tonnes of hydrogen and 300,000 tonnes of green ammonia using renewable electricity. Also the phase 2 of the project shall use an electrical connection of 1400 MVA to produce 150,000 tonnes of hydrogen and green ammonia of more than 1 mn tonnes every year.
MP2X is and shall continue to be a direct driver in Europe of other national investments in the hydrogen manufacturing value chain in Sines. It will also participate in commercial and technical partnerships to purchase hydrogen manufactured by third parties. The project shall provide larger territorial balance and cohesion as it helps in building and operating solar and wind farms which produces renewable energy for Sines industrial units which are further to be implemented in Portugal’s inland, deconcentrated and dispersed areas.
