The Electric Power Trading Chamber (CCEE) has been invited to join a World Bank initiative aimed at helping developing countries structure their hydrogen markets.
As part of the project, the Chamber will focus on certification and contribute to the definition of criteria for classifying low-carbon hydrogen. The initiative was launched at COP 27, which was held in Egypt last year, and covers a range of topics including finance, technologies, business models, governance, and circular economy.
The CCEE’s main objective is to create a global market that fosters competitiveness between countries and attracts investors to the low-carbon hydrogen market. The organization is seeking to position Brazil as a leading player in the sector and to advance its work in establishing standardized energy certification for the manufacture of the input.
Hydroelectric power is one of Brazil’s main advantages, with hydroelectric plants accounting for almost 80% of the electricity produced in the country in 2022. In addition, 92% of all electricity consumed last year came from renewable sources, the highest index in the last 10 years. The CCEE believes that these figures demonstrate Brazil’s potential in the hydrogen market.
The World Bank has invested over $5.5 billion in energy projects worldwide over the last five years and sees Brazil as a key player in the low-carbon hydrogen market. The CCEE is the only Brazilian institution that already has all the necessary information for reliable certification, making it a vital part of the international working group. The project will also be supported by the Hydrogen Council, Hydrogen Europe, and the NREL renewable energy laboratory.
The CCEE’s participation in the World Bank initiative is a significant step towards positioning Brazil as a leading player in the low-carbon hydrogen market. By creating a standardized certification process for energy generated from hydroelectric power, Brazil has the potential to become a key supplier of low-carbon hydrogen to the global market. As the world transitions to a low-carbon economy, Brazil’s vast renewable energy resources give it a competitive advantage in the hydrogen market.