Australian companies to invest over US$10 billion in Ceará

Australian companies to invest over US billion in Ceará

Two Australian companies plan to invest over US$10 billion in Ceará in plants for the production of green hydrogenBoth companies had high-level meetings with the state government to schedule the stages of investment and sign protocols of intent. The considerable investment will boost the Ceará job market and place the state on the world map for renewable energy. 

Green hydrogen plants in Ceará

The two companies, Energix Energy and Fortescue Future Industries intend to start green hydrogen production. The plants will be based at Pecem Port, already a hub for foreign investment in Ceará and a major transportation hub linking Brazil to Europe, Africa and Asia. 

Energix Energy has already committed to investment to the tune of US$5.4 billion in its green hydrogen plant in Pecem. This company visited Ceará in mid-May to spend time at the Port choosing the ideal location for their factory. 

Fortescue Future Industries also met with state officials in mid-May. Their preliminary discussions focused on the location and logistics of their green hydrogen production. This Australian company will also be building a desalination plant. 

Investment in Ceará to exceed US$10 billion 

Between them, the two Australian companies will invest over US$10 billion in the state, a major injection into the Ceará economy. Fortescue Future Industries met with the Ceará governor to sign a protocol of intention for its plant. 

Investment in ammonia factory and wind farms

Green hydrogen production requires ammonia for its transportation and electricity to fuel the plants. Energix Energy will be building an ammonia factory, also located in Pecem Port. Once it reaches full production levels, the factory will make over 1.7 million tonnes of ammonia a year. 

Electricity for the green hydrogen plants will come from wind farms. Omega Desenvolvimiento, a Brazilian company specialised in renewable energy, accompanied Fortescue Future Industries on their visit. 

Omega plans to set up three new wind farms in Ceará by 2023. Between them, the trio will create over 3.5 GW of electricity, more than the state’s total consumption. The new farms will add to Ceará’s already considerable presence on the world map for sustainable energy. 

Opportunity for Ceará 

The latest foreign investment in Ceará opens up interesting opportunities for the state. The plants for green hydrogen, ammonia and wind energy will require skilled professionals for their construction and management. This need will create quality employment. The investment also places Ceará firmly on the map for foreign funds in Brazil. 

This, in turn, will boost demand for high-end products in the state, particularly property. The Ceará civil construction union, Sinduscon-CE, expects developers to increase the number of new high-end projects in Ceará to meet demand

(Source: Diario do Nordeste)