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Nel and Iberdrola ink MoU for green hydrogen project development

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Nel Hydrogen Electrolyser, a division of Nel, has signed a Memorandum of Understanding (MoU) with Iberdrola to collaborate in the development of a green hydrogen production plant with the capacity of more than 200 MW in Spain by 2023.

As part of this MoU, Iberdrola and Nel also plan to jointly develop a green hydrogen technology value chain in Spain.

“We are honored that Iberdrola wants to work more closely together with us on electrolyser projects in the 100-MW scale and beyond. Just as Iberdrola in the past successfully contributed to developments in the wind industry, they are now doing the same within hydrogen. Getting visibility on significant off-take volumes, and working together on the value chain through scale-up, will contribute massively to the overall cost reductions. Iberdrola and Fertiberia shares the same target with Nel, namely making green hydrogen competitive to fossil hydrogen, we see this cooperation as a solid step in the direction of succeeding just that.”

Jon André Løkke, CEO of Nel.

Earlier in November Iberdrola revealed plans with Fertiberia to develop an 800 MW green hydrogen project for the production of green ammonia. Shortly thereafter, Nel and Iberdrola unveiled that Nel would be the preferred partner for the delivery of a 20 MW PEM electrolyser facility in Puertollano, Spain.

“This initiative will accelerate the production of green hydrogen in Spain and will create a new industry, the manufacturing of electrolyser systems, with high growth potential. We continue to make progress in our ambitious plan to put Spain and Europe at the global forefront of this technology by reducing energy dependence and fossil fuel consumption while driving the country’s economic and social revitalization.”

Ignacio Galán, chairman and CEO of Iberdrola.

The parties will start the project, as well as strategic discussions, immediately, with the target of deploying more than 200 MW electrolysers in 2023, after the initial 20 MW plant is set to begin operations in 2021.

Anela Dokso

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