As green hydrogen project advances, HyDeal Spain management changes

Green hydrogen has emerged as one of the most promising technologies for decarbonizing the industry, and Spain is leading the way with several projects in development. One of the most promising is HyDeal Spain, a megaproject led by ArcelorMittal and Enagás, which affects the regions of Asturias and Castilla y León.

However, there has been a change of plans for the project’s strategy with the departure of Thierry Lepercq, the head of the HyDeal platform, following differences with ArcelorMittal and Enagás Renovable.

HyDeal Spain is the first industrial implementation of the HyDeal Ambition platform, which started in 2021 under the leadership of Thierry Lepercq. The project includes 30 companies from different fields, such as Naturgy, VINCI Energies Spain, and Falck Renovables. The first stage of the project aims to supply an important industrial complex in Asturias with renewable hydrogen through electrolysis at a competitive price compared to other fossil fuels. This will be achieved with the help of solar plants located in different parts of the northern half of Spain. The production is scheduled to start in 2025, and the project is expected to have a total installed capacity of 9.5 GW, which will power 7.4 GW of electrolysis power by 2030.

The project is expected to produce 6.6 million tons of renewable hydrogen over the next 20 years, which would avoid 4% of the current CO2 emissions in Spain. ArcelorMittal and Grupo Fertiberia, along with other organizations, will be the buyers of this energy. From the sector, the HyDeal project is valued at “billions” of euros since it achieves an industrial fabric of a certain proximity connected by renewable energies.

The recent change in the HyDeal Spain management team has raised concerns about the project’s timeline. Still, the driving companies are now looking for a manager who can take the reins of the project and accelerate the implementation of the renewable hydrogen value chain. This will promote energy transformation in the north of Spain.

Despite the management change, the promoters and the energy sector continue to consider HyDeal Spain as one of the most promising industrial platforms linked to hydrogen. The recent government funding approval of 450 million euros for the execution of ArcelorMittal’s circular hydrogen project in Asturias is a clear indication of the government’s support for the project.