The Spanish company, Iberdrola, and the UK based oil giant, Bp, have unveiled a strategic partnership to establish green hydrogen production centers in Spain, Portugal and the UK. The companies plan to develop a green hydrogen production capacity of 60, 000 tonnes/year, which they intend to use locally and also export to it to Northern Europe. Apart from green hydrogen production, its conversion into derivatives like ammonia and methanol is also targeted in this joint venture. This strategic collaboration will combine Iberdrola’s track record in renewable energy development and its global customer base with Bp’s experience in gas processing, trading and its global customer portfolio. The green hydrogen project at Bp’s Castellon Refinery in Spain is also a part of this agreement. The Castellon Refinery Project consists of a 20 MW electrolyzer which will be powered by a 40 MW solar plant, and produce green hydrogen for local use in Valencia Spain. A total of90 million euros will be invested in the project which will be the largest green hydrogen production plant in Spain when it comes into operation in 2023. Apart from hydrogen production projects , the companies also plan to establish a further joint venture to deploy a network of fast and ultra-fast public charging points in Spain and Portugal, 1 billion euros will be invested to deploy 5,000 charge points by 2025 and 11,000chareg points by 2030.
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