The Spanish government declared an ambitious funding initiative, dedicating 794 million euros to propel seven expansive renewable hydrogen projects, each powered entirely by solar, wind, and hydro energy.
These initiatives collectively aim to achieve a generation capacity of over 652 megawatts. The substantial investment, sourced from European post-pandemic recovery funds, is projected to catalyze further investments totaling more than 6 billion euros over the projects’ lifetimes, with an immediate activation of 1.141 billion euros.
This financial injection will benefit four major companies—Spain’s leading electricity providers, Iberdrola and Endesa; Repsol, the top oil company; and EDP, a prominent Portuguese energy firm. The geographic spread of these projects covers strategic industrial valleys across Andalusia, Aragon, Asturias, Castilla-La Mancha, the Basque Country, and the Region of Murcia, as identified by the European Commission.
Among the recipients, Repsol stands out with the largest share of the funding, receiving 315 million euros to enhance its electrolyzer facilities at the Petronor refinery in Muskiz, Bizkaia, and to boost green hydrogen production at its Cartagena plant in Murcia. Iberdrola is set to receive 242 million euros to support its renewable hydrogen production for industrial applications like ammonia and fertilizers. EDP is allocated 209 million euros for its projects near decommissioned coal-fired power plants, aiming to rejuvenate these areas with new energy solutions. Endesa is granted 28 million euros for a project in Magallón, Zaragoza, enhancing its 7.2 MW hydrogen production capacity.
The overarching goal of these projects aligns with the European Union’s ambitions to decarbonize industrial processes and foster an integrated European market for green hydrogen. This strategic vision not only aims to significantly reduce dependency on fossil fuels but also to establish a sustainable industrial framework that supports the long-term viability of hydrogen-based energy solutions without the need for continuous public financial support.
