By Brazil Stock Guide – Axia Energia, the new name of Brazil’s power utility Eletrobras (ELET3.BZ; ELET6.BZ; EBR), signed a memorandum of understanding with the government of Espírito Santo to study the installation of a green hydrogen (H2V) plant in the state, according to a company statement.
The agreement was signed with the state’s Environment Secretariat and the public services regulator and sets out technical and regulatory studies for a potential project. Axia said the initiative supports its target of becoming net zero by 2030 and could also drive local economic development, workforce training and technology diffusion.
“The development of green hydrogen is a strategic initiative, capable of accelerating the decarbonization of industries, fostering innovation, strengthening regional competitiveness and benefiting society as a whole,” said Virginia Fernandes Feitosa, Axia’s director for large corporate client relations, in the statement.
Axia added that it has already signed six memorandums of understanding with companies and state governments across Brazil to expand studies related to green hydrogen, as part of a broader push to scale low-carbon energy solutions.
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