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Investing.com -- TotalEnergies (EPA:TTEF) SE, a French energy company, is contemplating the import of green hydrogen from a project in northeastern Brazil that’s currently under development, according to Bloomberg, citing sources familiar with the matter. The green hydrogen would be used to supply its European refineries.
The project, being planned by Brazilian renewables developer Casa dos Ventos, could potentially have TotalEnergies as a significant buyer. The French company holds a 34% stake in the Brazilian company’s wind and solar generation unit. There are also discussions about TotalEnergies possibly taking a direct shareholding in the project, according to undisclosed sources.
The proposed project is to be developed in stages at the port of Pecem. Once completed, it may reach a capacity of 1.2 gigawatts of electrolysis, which could produce up to 160,000 tons of green hydrogen annually.
As of now, both TotalEnergies and Casa dos Ventos have not made a final decision regarding the deal and have declined to comment on the matter.
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