bp and Iberdrola Espa\u00f1a have initiated a groundbreaking 25 MW green hydrogen project at bp’s refinery in Castell\u00f3n, with plans to have it operational by the latter half of 2026. This venture marks the first collaborative hydrogen effort between the two companies through their equally owned joint venture, Castell\u00f3n Green Hydrogen S.L.<\/p>\n
The project was formally introduced during an event celebrating the final investment decision reached between bp and Iberdrola Espa\u00f1a. Supported by the Instituto Tecnol\u00f3gico de la Energ\u00eda (ITE), the initiative has secured \u20ac15 million in funding from the Innovative Value Chain and Renewable Hydrogen Knowledge programs under Spain\u2019s Recovery, Transformation and Resilience Plan, funded through the European Union\u2019s NextGenerationEU program.<\/p>\n
Felipe Arbel\u00e1ez, bp\u2019s Senior VP of Hydrogen and Carbon Capture and Storage, emphasized the importance of this investment, which signifies a major advancement for their hydrogen business. He highlighted the collaboration as a pivotal move towards a new energy source that can significantly contribute to the decarbonization of industrial processes. The Castell\u00f3n refinery is poised to take the lead in this transformation.<\/p>\n
Mill\u00e1n Garc\u00eda-Tola, Global Hydrogen Director at Iberdrola Espa\u00f1a, reiterated the commitment to green hydrogen as a vital component for industrial decarbonization. This project will convert 200 GWh per year of renewable energy from Iberdrola into green hydrogen, aligning with bp’s decarbonization objectives. The experience and knowledge gained from existing hydrogen plants will be instrumental in the project’s development.<\/p>\n
Olvido Moraleda, President of bp Energ\u00eda Espa\u00f1a, noted that this initiative exemplifies the power of collaboration, not only between private partners but also in the public sector. It aims to advance the infrastructural transformation in Castell\u00f3n while bolstering the economic development of the Valencian Community.<\/p>\n
Mario Ruiz-Tagle, CEO of Iberdrola Espa\u00f1a, highlighted the collaborative efforts as central to their strategic alliance with bp, emphasizing that the project demonstrates the potential for creating a resilient green hydrogen economy. Such advancements not only cut emissions but also attract investments and generate quality jobs, underlining the true essence of energy transition.<\/p>\n
The project will utilize a 25 MW electrolyser reliant on renewable energy supplied through a power purchase agreement (PPA) with Iberdrola Espa\u00f1a, sourcing 200 GWh annually from its photovoltaic and wind assets. The electrolyser will consist of five 5 MW containerized proton exchange membrane (PEM) technology modules provided by Plug Power, a leader in green hydrogen solutions.<\/p>\n
By utilizing electrolysis powered by renewable electricity, the output green hydrogen will comply with European standards for Renewable Fuels of Non-Biological Origin (RFNBO), aiding bp’s transition toward an integrated energy hub.<\/p>\n
The anticipated output of about 2,800 tonnes of green hydrogen annually is expected to partially replace the grey hydrogen currently generated from natural gas, reducing greenhouse gas emissions by approximately 23,000 tonnes of CO2 each year\u2014equivalent to the emissions produced by 5,000 cars. Furthermore, the project is expected to create up to 500 direct jobs during construction.<\/p>\n
In addition to this first phase, bp plans to explore further capacity expansions in subsequent years. Future phases may see green hydrogen being deployed in hard-to-decarbonize sectors in the Valencia region, such as ceramics, chemicals, and heavy transport.<\/p>\n
The announcement comes shortly after bp signed a letter of intent with the Valencian government aimed at enhancing the region’s role in the energy transition, which led to the formation of a joint working committee to facilitate this transformation into an integrated energy hub.<\/p>\n
Iberdrola Espa\u00f1a has also strengthened its efforts towards decarbonization through several recent partnerships:<\/p>\n
– A joint venture with bp was launched to establish 11,700 fast charging points in Spain and Portugal by 2030.
\n– A renewed alliance with Norges Bank Investment Management for 2,500 MW of renewable energy.
\n– A co-investment agreement with Masdar for \u20ac15 billion related to the Baltic Eagle offshore wind farm.
\n– Collaborations with GIC for expanding transmission grids in Brazil, valued at \u20ac430 million.
\n– Progress in a strategic alliance with MAPFRE, enhancing their joint venture with an additional 150 MW.
\n– An alliance with Energy Infrastructure Partners to boost offshore wind investments through co-investment in the Wikinger offshore wind farm. <\/p>\n
This concerted effort exemplifies the commitment of both bp and Iberdrola Espa\u00f1a to cultivate a sustainable energy landscape in Spain and beyond.<\/p>\n","protected":false},"excerpt":{"rendered":"
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