Brazil Launches Call for Low-Carbon Hydrogen Projects Funding
Key Ideas
- Brazil's energy ministry is seeking low-carbon and renewable hydrogen projects for funding under the $1bn industrial decarbonisation programme led by the Climate Investment Fund.
- Projects worldwide, particularly in developing countries, are eligible for the funding, emphasizing the need for commercial-scale initiatives using various low-carbon production methods.
- The call for expressions of interest closes on 2 November, with selected projects to be announced on 6 December. Brazil can then submit its project portfolio to the CIF by 17 January.
- Selected countries could receive between $125mn to $250mn for their projects, signaling significant financial support for advancing hydrogen technologies and decarbonisation efforts.
Brazil's energy ministry has initiated a call for low-carbon and renewable hydrogen projects to vie for funding from the potential $1bn allocation under the industrial decarbonisation programme, orchestrated by the Washington-based Climate Investment Fund (CIF). Initially, the funding was thought to be solely for hubs within Brazil, but the ministry clarified that the scope extends globally, with preference towards projects in developing nations. The CIF, supported by the World Bank, is backing this initiative. Projects, to be considered, must be at a commercial scale and can encompass various low-carbon production pathways and technologies, such as carbon capture use and storage (CCUS) and ethanol reforming. The deadline for project submissions is set for 2 November, with the announcement of selected projects scheduled for 6 December. Following this, Brazil can present its project assortment to the CIF by 17 January. Each selected country stands to secure between $125mn to $250mn in funding for their projects, highlighting a substantial financial boost for hydrogen-related ventures and decarbonisation endeavors.
Topics
Projects
Renewable Energy
Technology
Funding
Decarbonisation
Carbon Capture
Ethanol
World Bank
Climate Investment
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