Bp: green hydrogen project with Iberdrola launched

(CercleFinance.com) - bp and Iberdrola announced on Thursday that they had made the final investment decision on their joint green hydrogen project in Spain, which is set to be the largest of its kind in the country.


Their 50/50 joint venture will operate the infrastructure, located in the province of Castellon, with a capacity of 25MW when it comes on stream in 2026.

The project, which is to receive €15 million in financial aid from the government's stimulus fund, is expected to avoid the emission of some 23,000 tonnes of CO2 per year.

The unit is also expected to create 500 new direct jobs during its construction phase.

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