The Global Gateway will provide critical support to GEP by positioning it as a flagship initiative, offering benefits such as strategic endorsement; access to sustainable investment; integration with broader initiatives; support for international trade; and economic and industrial development.
H2 View understands that the Global Gateway will essentially act as a “catalyst”, ensuring GEP accelerates the energy transition, enhances connectivity and fosters sustainable partnerships between Europe and Brazil.
The ‘North-East Brazil Green Energy Parks & Green Shipping Corridors’ initiative will aim to create a robust network of European infrastructure projects in the region, playing a pivotal role in the South American nation’s role in neo-industrialisation.
“We extend our gratitude to representatives of Lithuania for their leadership in submitting the GEP for nomination as a flagship project of the Global Gateway,” explained Bart Biebuyck, CEO of GEP.
Continuing, the CEO also expressed appreciation to Austria, Belgium, the Netherlands and Germany for their “active support and collaboration in promoting green energy potential of North-East Brazil.”
Gediminas Varvuolis, Ambassador at Large for Connectivity at the Ministry of Foreign Affairs of the Republic of Lithuania, added that the Global Gateway is a “quality infrastructure offer to our partners across the globe.”
Varvuolis said, “The endorsement of GEP as a flagship project of the EU presents a significant opportunity to accelerate energy transition and foster prosperous partnership between Europe and Brazil.
“It also enables Lithuanian and other European businesses to contribute to the construction of this sustainable and green supply chain.”
Last April, GEP raised $30m in Series A funding and secured the long-term rights to a hydrogen port terminal in Brazil for green ammonia exports to Europe.
GEP plans to export hydrogen produced from its 10.8 GW plant in Piauí to Croatia, serving as a hub for European distribution.
