Dutch financial institution Invest International has partnered with Madoqua for the development and construction of a green hydrogen and ammonia plant in Portugal. The collaboration represents a significant step in advancing renewable hydrogen infrastructure in Europe.
The project, MadoquaPower2X, will feature a 500MW electrolyser and an ammonia production facility located in the Sines Industrial and Logistics Zone (ZILS). The first shipment of green ammonia is slated for delivery in 2029.
Invest International has committed €1 million to the project's design and development phase, including the establishment of commercial agreements. The institution highlighted the challenges of financing green hydrogen initiatives, citing high costs and risks that deter traditional lenders.
CEO Hans Docter underscored the broader impact of the investment. “By investing in Madoqua, Invest International contributes to the European strategy to accelerate the energy transition and reduce dependence on fossil fuels,” he said. The project will also strengthen Rotterdam's role as a key transit hub for green hydrogen imports to the Netherlands.
When completed, the €1.3 billion plant is expected to create approximately 3,000 indirect jobs during construction and 115 direct highly skilled positions during operations.
Madoqua will develop the facility in partnership with a European consortium including Power2X and Copenhagen Infrastructure Partners. Significant funding will come from the European Hydrogen Bank, a European Commission initiative aimed at scaling renewable hydrogen production across the EU.
MadoquaPower2X was among six winners in the European Hydrogen Bank's first green hydrogen auction in 2024. A second auction, with €1.2 billion in funding, is scheduled for December 2024. This initiative aims to connect supply and demand while fostering investment security in the renewable hydrogen sector.
