BP and Iberdrola have jointly announced a significant green hydrogen initiative at BP's Castellón refinery in Spain. The project, set to be developed through their joint venture, Castellón Green Hydrogen S.L., involves the construction of a 25 MW green hydrogen plant. The facility, expected to be operational by the second half of 2026, will utilize 200GWh of renewable energy per year to produce green hydrogen. The project received 15 million euros in funding from NextGenerationEU and involves the Technology Institute of Energy. The green hydrogen produced will assist BP in meeting its decarbonization targets, aiming to reduce approximately 23,000 tons of carbon dioxide emissions annually. Additionally, the initiative is projected to create 500 new jobs and potentially expand to support the decarbonization of other industries in Valencia, such as ceramics and heavy transport. Iberdrola's collaboration with BP signifies a forward step in promoting green hydrogen to decarbonize the industry. The company highlighted the importance of green hydrogen production in meeting European standards and its commitment to leveraging its green hydrogen expertise for the project's advancement. BP's strategic move not only aims to upgrade the Castellón refinery but also to contribute to industrial capacity and economic development in the region. The project is part of both companies' commitment to sustainable energy production and aligns with the EU's focus on green initiatives. With a positive sentiment towards hydrogen, the partnership between BP and Iberdrola marks a significant milestone in the transition towards green, emission-free energy production.