Comerc and Casa dos Ventos, entered into a partnership to explore opportunities to co-invest in green hydrogen projects

Comerc – through Nexway – and Casa dos Ventos, entered into a partnership to develop and explore opportunities to co-invest in green hydrogen projects, a growing market that is likely to grow exponentially given general concerns with climate change. According to a report recently published by the International Energy Agency, “11 countries in the region [Latin America] have either published or are currently preparing national hydrogen strategies and roadmaps, and a pipeline of more than 25 low-carbon hydrogen projects are at the early stages of development.”

Nexway is the energy efficiency company of the Comerc Group, one of the largest energy traders in Brazil. Casa dos Ventos stands out as a developer and operator of renewable generation projects and currently has under construction and operation a 1,5 GW  in wind plants, intending to reach 3 GW until 2026.

In the next ten years, the executives estimate that the green hydrogen projects will require around USD 4 billion and, together, the partners’ intent is to create their own projects, focusing on the exportation of the product, and also to develop others plants to sell for investors. According to Marcel Haratz, CEO of Nexway, the partners are preparing for a hydrogen auction, provided by the German government to occur in the next months, and there are also advanced contractual negotiations in Brazil.

Souto Correa advised Nexway during the whole process of negotiating the agreement, from tax, corporate and regulatory standpoints. Legal advice was led by partners Lívia Amorim and Mauricio Paschoal and had the involvement of other partners of the firm, named Isabelle Bueno and Giácomo Paro. Internally, the process was conducted by Elisa Pascoal and Karina K. Yunan Kyriakos Saad from Casa dos Ventos, Camilla Sisti and Lawrence Colchin.