Petrobras, Brazil’s state-controlled oil company, and Danish firm European Energy have inked a Memorandum of Understanding (MoU) to explore potential business opportunities for establishing an e-methanol plant in Brazil. The non-binding agreement was signed at European Energy’s headquarters in Denmark.
E-methanol, a low-carbon substance derived from renewable sources of green hydrogen and biogenic carbon dioxide, holds substantial promise for various industrial applications and as a fuel, particularly in maritime transport.
The collaboration between Petrobras and European Energy is aligned with the latter’s vertically integrated operations, encompassing ventures in the energy transition sector. European Energy specializes in renewable energy generation, including solar and wind power, along with offering green hydrogen-based solutions, aligning perfectly with the ethos of producing e-methanol sustainably.
Commenting on the partnership, Jean Paul Prates, President and Cheif Executive Officer (CEO) of Petrobras, emphasized the significance of collaborating with reliable and established companies like European Energy. He highlighted the mutual benefits of this collaboration, indicating that Petrobras aims to leverage its expertise to foster a closer relationship between both companies and countries.
The MoU signifies a key step in Petrobras’ 2024-28 Strategic Plan, which places paramount importance on preparing the company for a more sustainable future while actively contributing to the success of the energy transition. The strategic alignment with European Energy’s expertise in renewable energy and green hydrogen solutions aligns seamlessly with Petrobras’ commitment to sustainability and the future of energy.
European Energy, a prominent Danish entity engaged in developing, constructing, and operating renewable energy plants worldwide, has a significant presence in Brazil’s Northeast region. The company operates solar and wind power facilities while also delving into green hydrogen (Power-to-X) solutions. Its ongoing projects and existing assets in Brazil’s Northeast underscore its commitment to advancing renewable energy initiatives in the country.