Spain’s government has approved an additional €1.6bn to bolster the green hydrogen sector, effectively doubling the initial allocation of €1.55bn, as announced by Teresa Ribera, the Minister for Transition Ecology and the Demographic Challenge. This surge of funds aims to leverage private capital investment and support unique renewable hydrogen projects.
Support calls worth €400 million have already been launched, marking a strategic national commitment to renewable hydrogen. Ribera’s announcement corresponds with a busy week for green hydrogen, marked by numerous investments and alliances, notably between Spain and the Netherlands.
Teresa Ribera Minister for the Ecological Transition and the Demographic Challenge of Spain said, “We have allocated 1,555 million € to promote the development of renewable hydrogen in Spain and which, in turn, will mobilize another 2,800 million euros of private capital. With the addendum to the recovery plan that we approved last week, we will be able to allocate an additional 1,600 M €. Today Spain consumes half a million tons of gray H2 – produced from fossil fuels – which can be replaced. In addition, there are industries that need natural gas for their processes or high-temperature heat. Renewable H2 may be the alternative. Spain can be positioned as a benchmark in H2, in the decarbonization of its industry and as a pole of attraction for new industry. We also want to have the associated industry: design and produce capital goods -eg. electrolyzers- and services linked to H2.”
Prominent companies like Cepsa, EDP, Repsol, Enagás, and Naturgy have been successful bidders in the previous call for projects. Cepsa recently unveiled plans to build Europe’s largest green ammonia plant, reinforcing its green hydrogen commitment with a €1bn investment. This announcement aligns with the increasing competition among Spanish businesses to lead in the renewable hydrogen field.
Iberdrola also declared its intention to build a green ammonia plant in Huelva with an investment of €750 million. Meanwhile, Repsol inked an agreement for the development of a European renewable hydrogen corridor, solidifying the role of renewable hydrogen in Spain’s future energy matrix.
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