Hygreen Energy, a Beijing-based company, has invested €2 billion for the development of green hydrogen projects in Andalusia, Spain.
The regional government revealed that this investment will fund at least two major projects, including a manufacturing facility for electrolysers and other components necessary for green hydrogen production in Malaga.
While the €2 billion commitment marks a substantial investment in Andalusia’s green hydrogen sector, the actual impact of these funds will depend on how effectively Hygreen Energy can execute its plans. Building a manufacturing site for electrolysers in Malaga is a crucial step, as electrolysers are central to the production of green hydrogen. However, the broader context of the hydrogen market raises questions about the scalability and economic feasibility of these projects.
The company has also entered into a partnership with Coxabengoa, a renewables developer, to establish another manufacturing facility in Seville. Interestingly, this partnership appears to be distinct from the €2 billion investment, suggesting that Hygreen Energy’s ambitions in the region may extend even further.
However, the separation of this project from the main investment raises questions about the coordination and coherence of Hygreen’s overall strategy.
