Brenmiller's bGen Selected As Preferred Solution For Spain-Based Cadiz Project Designed To Produce 29,000 Tons Of Green e-Methanol Annually
Portfolio Pulse from Benzinga Newsdesk
Brenmiller Energy Ltd. (NASDAQ: BNRG) has signed a non-binding MOU with SolWinHy Cádiz S.L to develop hydrogen and e-methanol projects in Spain. The bGen thermal energy storage system by Brenmiller will be integrated into the SolWinHy Project, which aims to produce 29,000 tons of green e-methanol annually using renewable energy sources. The project, which has completed feasibility studies and proof-of-concept, will operate off-grid, producing 220 MW of electricity from wind and solar power. A final investment decision is expected by Q3 2024.
December 13, 2023 | 1:22 pm
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Brenmiller Energy Ltd. has entered into a strategic MOU with SolWinHy Cádiz S.L for a green e-methanol project in Spain, leveraging its bGen thermal energy storage system. The project is expected to produce 29,000 tons of e-methanol annually and is powered by 220 MW of renewable energy.
The MOU for the SolWinHy Project is a significant development for Brenmiller Energy, indicating potential growth in the renewable energy sector. The successful integration of bGen into this project could lead to increased demand for Brenmiller's technology and expertise, positively impacting the company's stock in the short term. However, as the MOU is non-binding and the final investment decision is pending until Q3 2024, the actual impact on the stock may be moderate until further developments confirm the project's progression.
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