Spanish consortium forms for $4.4 billion green hydrogen investmentJanuary 25, 2022
Repsol will lead the members that are investing in 2GW of renewable H2 production by 2030.
Repsol has announced that it is heading a new 33 company and organization multi-sector consortium that will be investing in the production and use of green hydrogen in Spain.
The investment will pour €3.23 ($4.4 billion) into promoting Spanish renewable H2 production and use.
The consortium, called the Spanish Hydrogen Network (Shyne) will be investing into a spectrum of green hydrogen technologies, including the installation of 500 megawatts of renewable H2 capacity by 2025. From there, the capacity will increase to 2 gigawatts by 2030. This represents half of the Spanish government’s goal for the entire country by that year, which is 4 gigawatts of capacity.
Shyne will also be launching other renewable energy projects. Those will be focused on providing the power that will be used for the H2 production. From there, the consortium will promote the clean fuel’s use “in all transportation segments” by way of the production of synthetic fuels and a minimum of a dozen H2 filling stations by 2025. Equally, it will push for the use of clean H2 for applications in heavy industry and in heating.
The green hydrogen project’s goal is to “generate an ecosystem that connects” three H2 hubs.
The goal of the project is to develop an ecosystem in which three planned industrial H2 hubs in the Murcia, Catalonia and Basque regions will be connected. The project is also meant to support the development of two new innovation hubs in Castile-La Mancha and Madrid and will target the development of solid-oxide electrolyzers and photoelectrocatalysis.
Photoelectrocatalysis is a form of tech that uses solar energy directly for the production of H2 without the need for an electrolyzer step in between. Repsol intends to make that photoelectrocatalysis technology commercially viable by 2030. Finally, the consortium will also construct a knowledge management center for the coordination of all this activity. It will be based in Madrid.
“The synergies between the companies collaborating in Shyne will support coordinated industrial developments throughout the hydrogen value chain, maximising investment capacities,” said a statement from Repsol announcing the consortium and its green hydrogen investment in Spain.