Spanish energy company Iberdrola is set to invest in a multi-million euro green hydrogen project with an expected capacity of 800MW over the next seven years.
Source: Iberdrola
Ignacio Gaban, Iberdrola's CEO.
The new plant in Puertollano was first announced back in July and involved an investment to the tune of €50 million for industrial use across Europe.
For the project, Iberdrola has teamed up with fertiliser company Fertiberia, and the two are set to invest a further €1.8 billion into the scheme over the next seven years.
The two companies will also chair several new projects between 2023 and 2027, to deliver 40 times the capacity of green hydrogen than the initial plant across two more locations owned by Fertiberia. The two additional plants are located in Puertollano and Palos de la Frontera.
They hope the projects will reduce Spain's dependence on fossil fuels and promote economic development.
They hope it will push to full decarbonisation of Spanish industry and promote renewable energy as a reliable and profitable business venture.
Ignacio Galán, chairman of Iberdrola, said: “This great project could turn Spain into the first country to obtain 100% of its ammonia production from green energy sources.
“These are ambitious plans that aim to put Europe at the top of the world league of this technology.
“And they require industrial companies willing to face up to the transformation of their production processes; a supply chain ready to fabricate the infrastructure for electrolysis on a large scale, with increasingly efficient and competitive equipment – the ambitions need companies with sufficient investment and execution capacity to generate and supply the required capacity of green energy, and support from the European Union to make these projects a reality."
Javier Goñi, chairman of Fertiberia, said his firm will be: “the first company in the industry that feeds its large plants with green hydrogen, thanks to local renewable sources that will also supply our electricity consumption needs”.
The first plant will be operational by 2021.
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