GoVerde Energia has signed a letter of intent with the Bahia state government to develop a hydrogen-based methanol and ammonia production facility in Brazil.
Under an initial agreement with the Bahia state Secretariat for Economic Development (SDE), GoVerde plans to invest BRL 5.4bn ($949m) into the industrial project, and a further BRL 3.6bn ($632.6m) into an additional solar plant.
Split into three phases, the first will see the photovoltaic plant potentially generate up to 1.5GW of upstream solar power.
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