CIPP lands H2 backing
The Pecem Industrial & Port Complex Company and the Government of Ceara have landed US$134m in financing from the World Bank backing the hydrogen strategy at the complex.
The World Bank’s financial support is provided through an Investment Project Financing instrument. The US$134m comprises US$90m via an International Bank for Reconstruction and Development loan, a US$9m grant from the IBRD Surplus-Funded Livable Planet Fund grant, US$33.5m via a Climate Investment Funds loan under the Renewable Energy Integration scheme, and US$1.5m from a CIF REI grant.
The Ceara government has signed upwards of 40 memoranda of understanding and six pre-contracts related to green hydrogen production, the state government said. Companies with agreements include Linde, EDF, EDP, Engie, BP, Fortescue and Grupo Jepri. Fortescue in 2024 became the first company to sign a pre-contract for the installation of an H2 project in the Pecem complex, with its project requiring US$5bn.
