BKM advises Canadian company in USD 500 million investment

By BKM | Berkemeyer

BKM | Berkemeyer provided advise to the Canadian company NeoGreen Hydrogen Corporation within the negotiation process with the National Electricity Administration (ANDE) regarding a cooperation agreement signed on November 16th, for the development of a green hydrogen production project in Paraguay using renewable electricity (the “Project”).

The Project will begin with the corresponding feasibility studies and be developed in two phases:

The first phase, called the “Pilot Project”, will last about two years, being its main objective the production of green hydrogen to supply local industries. For the startup, an electricity supply contract is expected to be signed with ANDE towards the provision of up to a maximum of 50 MW.

In the second phase, called “Commercial Project”, it is intended to install an industrial plant in Paraguay for the production of green hydrogen at a large scale, which will require the acquisition of 500MW from ANDE to be sold to local industries and export abroad. With the implementation of the Project, in addition to generating a local source of jobs, Paraguay may become one of the largest producers and exporters of green hydrogen in the world. Green ammonia will also be produced and exported.

It should be noted that green hydrogen is a clean energy source that helps reduce emissions from fossil fuels since it does not produce carbon dioxide (CO2).

NeoGreen is a renewable energy developer, that utilizes solar, wind and hydro power generation in the production of green hydrogen in emerging markets.

Associate Mr. Adriana Ocampos and Partner Martin Carlevaro are the BKM team that advised NeoGreen.