Spanish renewable energy company Grenergy has acquired a 50% stake in the Arequipa green hydrogen megaproject in Peru.
The project, led by LATAM H2, entails an initial investment of $500 million and aims to produce green hydrogen using renewable energy sources. Grenergy’s involvement reflects its commitment to expanding its presence in the green hydrogen sector, a crucial component in the global transition to sustainable energy. The Arequipa project is expected to start producing green hydrogen by 2026 and intends to contribute significantly to reducing carbon emissions in the region.
Grenergy’s decision to invest in the Arequipa project aligns with its strategy to diversify its renewable energy portfolio. By participating in this project, Grenergy not only broadens its investment in renewable energy but also positions itself as a key player in the green hydrogen market.
The megaproject in Arequipa is expected to have a substantial impact on the local economy by creating jobs and promoting the adoption of clean energy technologies. It will also support Peru’s national goals of reducing carbon emissions and increasing the use of renewable energy.
