General – Portugal
Portuguese project developer Madoqua Renewables (Madoqua) announces a partnership with Dutch energy transition project developer and consultancy Power2X and Danish fund manager Copenhagen Infrastructure Partners’ Energy Transition Fund (CIP).
The new partnership plans to build MadoquaPower2X, a €1 billion industrial-scale project for the production of green hydrogen and ammonia in Sines, Portugal.
Total investment of €1 billion in 500MW green hydrogen and 500ktpa ammonia production, reducing CO2 emissions by up to 600,000 ton per annum and creating more than 200 jobs.
MadoquaPower2X will use renewable energy and 500MW of electrolysis capacity. It is the first project to be installed at the future energy and technological hub of Sines, with an industrial scale production of 50,000 tons of green hydrogen and 500,000 tons of green ammonia per year.
This project is the first real step in the implementation of a new energy transition model, of which Portugal is an early mover, asserting itself as a relevant player in the new energy world order.
The hydrogen produced under this project can be used by the local industry as well as processed to create green ammonia for export from the terminal at port of Sines.
Electricity will be sourced from renewable power produced in Portugal, in particular from renewable energy communities for wind and solar plants that are being developed in parallel. This approach will ensure availability of dedicated renewable energy throughout the lifetime of the project.
The project is currently under development and is expected to be fully permitted and ready for a final investment decision by the end of 2023, with construction to commence thereafter and first hydrogen production by the middle of the decade.