Mercurio Asset, an asset management company, completed the acquisition of an 80% stake in the Pecem coal power plant from EDP, a Portuguese electric utilities company, for BRL1.5bn. EDP kept 100% management of the 1.25 MW renewable hydrogen project that was commissioned in December 2022 in the Pecém complex. EDP will continue to assess the potential to develop larger scale renewable hydrogen projects in the region.