Fotowatio Renewable Ventures (FRV), a subsidiary of Abdul Latif Jameel Energy and a global leader in renewable energy with operations on five continents, will participate in a project launched by the Professional Taxi Federation of Madrid to gradually replace at least 1,000 traditional taxis with green hydrogen-powered vehicles by 2026.
The plan, which intends to gradually decarbonize urban public transportation, will cost more than €100 million and will enable the first hydrogen vehicles to enter service by 2022.
The initiative’s ‘Taxi-as-a-Service’ (TaaS) business model will enable drivers to use hydrogen-electric vehicles at a lower cost than previous technologies without incurring upfront costs.
Together with Madrilea Red de Gas, FRV will manage the overall project’s development of the hydrogen production, vehicle refueling, and fuel delivery infrastructure. This will necessitate the building of a minimum of a ten-megawatt electrolyzer driven by a twenty-megawatt solar photovoltaic plant capable of expanding its production capacity as the demand for hydrogen for more vehicles increases.
The initiative, which aims to establish Madrid as a European benchmark in the field of sustainable public transport mobility, will engage various enterprises involved in the hydrogen value chain. Along with FRV and Madrilea Red de Gas, Toyota Spain will be the official car supplier with its record-breaking hydrogen fuel cell vehicle, the Toyota Mirai, which utilizes hydrogen to create power and travels up to 600 kilometers without emitting any pollutants. Grupo Ruiz will contribute its urban transport knowledge, aggregating demand and enhancing the project’s competitiveness.
Fady Jameel, Deputy President and Vice Chairman, Abdul Latif Jameel commented: “We are proud, as Abdul Latif Jameel Energy, to support the accelerating transition to sustainable public transport to improve our cities and the environment whilst continuing to invest in expanding the breadth of capabilities for our flagship renewables business, FRV, and applaud this initiative by the Professional Taxi Federation of Madrid as a significant step.”