Moeve launches construction of the first phase of a green hydrogen project in Spain
In Spain, Moeve announced the construction of the first phase of the Andalusian Green Hydrogen Valley. The facility will have 300 MW of electrolysis capacity, represent a joint investment of more than $1.1 billion, and generate an employment impact of more than 8,000 direct, indirect, and induced jobs across the value chain.
The project, led by Moeve with a majority 51% stake, benefits from a strong shareholder structure that combines industrial and financial expertise through the participation of Hy24, the world’s largest clean hydrogen private equity asset manager, and COFIDES, Spain’s public-private finance institution, as strategic partners with a combined 29% stake. The remaining 20% is jointly held by Enagás Renovable, one of Europe’s leading developers of renewable gas projects, and Alter Enersun, a company dedicated to the development of renewable electricity generation facilities.
The facility will be capable of producing approximately 45,000 tons of renewable hydrogen annually, avoiding around 250,000 tons of CO2 emissions each year.
The hydrogen will be used to support the more sustainable production of fuels for road, aviation and maritime transport, while also helping to decarbonize other industries, Moeve said.
Category: Hydrogen
