Canadian renewable energy company Neogreen Hydrogen and Portuguese developer of photovoltaic solar parks Frequent Summer announced on Monday plans to invest more than 1 billion euros ($1.04 billion) in a green hydrogen plant in Portugal.

The plant will be built in the port city of Sines, 150 km (93 miles) south of Lisbon, and will include a 500-megawatt electrolyzer “for the production of ‘green’ hydrogen and derived fuels,” the companies said in a statement.