UK-based Renewco Power and Ciudad Real’s INDHO have launched Indhyco, a joint venture dedicated to pioneering green hydrogen projects throughout the Spanish market. This collaboration is set to develop projects that are focused on the industrial consumption of green hydrogen, prioritizing efficient production near consumption points and leveraging renewable energy sources.
Indhyco aims to bring 1 GW of green hydrogen projects to the ready-to-build (RTB) stage within the next five years, showcasing a significant commitment to advancing Spain’s hydrogen economy. The venture combines Renewco’s broad expertise in renewable energy project development in Europe and the US with INDHO’s deep-rooted experience and pioneering efforts in Spain’s green hydrogen sector since 2016.
Renewco has been actively expanding its portfolio since its inception in 2021, developing a 5 GW pipeline from 50 projects, including solar, wind, battery storage, and green hydrogen across multiple countries. INDHO’s track record includes the successful advancement of two green hydrogen projects in Spain to the RTB stage, positioning it as a leader in the region’s shift towards renewable energies.
Pedro Perejon, Renewco’s Business Development Director in Spain, highlighted the strategic importance of this new platform, stating, “This new platform will strengthen Renewco’s position and diversify our existing green hydrogen development strategy in Spain, one of the key regions in what is a fast-growing sector.” He emphasized the value of partnering with Fernando and Ricardo, leaders in the green hydrogen sector in Spain, noting that their extensive experience would provide invaluable insights and accelerate project development.
This joint venture marks a significant step forward in the integration of renewable energy solutions in Spain, aiming to reduce carbon emissions and enhance the sustainability of industrial energy consumption. As Indhyco progresses, it is expected to play a crucial role in shaping the future of energy in Spain and potentially set a benchmark for green hydrogen development in Europe.
Read the most up to date Fuel Cell and Hydrogen Industry news at FuelCellsWorks
