Dutch company Power2X and Spanish company Soto Solar have joined forces to develop a solar energy and green hydrogen project in central Spain.
The project, called ErasmoPower2X, will consist of a 1.2 GW photovoltaic plant and an integrated plant to produce 55,000 tons of green hydrogen. The project has an estimated investment of more than 1,000 million euros, and it is expected to be operational by the end of 2027.
The project was announced during the World Hydrogen 2023 event held in Rotterdam, where the partnership was formed. ErasmoPower2X will connect a large-scale photovoltaic solar plant with an electrolyzer that is expected to have a capacity of at least 500 MW. This facility aims to help meet regional and national targets for renewable energy penetration and industrial decarbonization.
One of the key advantages of ErasmoPower2X is its strategic location, which will ensure the supply of green hydrogen to large industrial buyers in the region. The project will be developed near the Puertollano industrial zone and the Spanish hydrogen corridor, with an agreement already in place to replace the consumption of fossil raw materials for a major industrial buyer.
The project has the strong support of the Junta de Castilla-La Mancha and the National Hydrogen Center (CHN2). It conforms to the objectives of the agreement signed between Spain and the Netherlands in February 2023, which seeks to promote cooperation between the two EU countries in the development of green hydrogen. Spain is an attractive country to produce green hydrogen at competitive prices given the low cost of renewable energy.
The consortium behind ErasmoPower2X is exploring opportunities to expand the project and add new projects to the Spanish portfolio. In addition, the project is expected to create more than 2,500 jobs for construction and operation in a highly depopulated area.
The project is still in the development phase, with processing expected to be completed by the end of 2025. The final investment decision is also expected to be made by the end of 2025, with the project scheduled to be operational by the end of 2027.
The development of ErasmoPower2X is a significant step towards achieving Spain’s renewable energy goals, which aim to generate 74% of electricity from renewable sources by 2030. In addition, the project will contribute to the country’s efforts to decarbonize its industry, which is responsible for approximately 60% of Spain’s greenhouse gas emissions.
Overall, the partnership between Power2X and Soto Solar represents an important collaboration between the Netherlands and Spain in the development of green hydrogen, which is seen as a key element in the transition towards a more sustainable and carbon-neutral future.