Bp plc and Iberdrola S.A. have jointly approved the construction of a 25-MW green hydrogen project at bp's Castellón refinery in Spain, set to become operational in the second half of 2026. This initiative, facilitated through their joint venture Castellón Green Hydrogen S.L., marks a significant step in promoting green hydrogen for industrial decarbonization. The project has received 15 million euros in funding from the EU's NextGenerationEU program, aiming to leverage renewable energy to produce green hydrogen and support bp's decarbonization strategy. The electrolyzer, powered by renewable electricity from Iberdrola, is expected to produce green hydrogen meeting European standards and could potentially replace grey hydrogen at the refinery, leading to a substantial reduction in CO2 emissions. Additionally, this project is anticipated to create around 500 new jobs during its construction phase, contributing to economic growth in the region. With plans for further capacity expansion and collaboration with key industries, bp and Iberdrola aim to position Spain as a pioneer in the green hydrogen economy, emphasizing sustainability and technological advancement.