BP and Iberdrola have jointly approved the launch of Castellón Green Hydrogen, a 50% joint venture that will undertake Spain's largest green hydrogen project. This 25 MW initiative is slated to be operational by the second half of 2026. The project marks a pivotal move in their hydrogen energy business, aiming to maximize value through integration. By harnessing 200 gigawatt hours of renewable energy from Iberdrola for green hydrogen production annually, the project will assist the Castellón refinery in achieving decarbonization objectives. Additionally, an estimated 23,000 tons of carbon dioxide emissions are set to be mitigated yearly, equivalent to the emissions of 5000 cars. Looking ahead, the project envisions extending its benefits to challenging-to-decarbonize industries in the Valencia region, including chemical, ceramics, and heavy transportation sectors. This strategic endeavor promises to play a crucial role in advancing the region's industrial decarbonization efforts and fostering sustainability within diverse sectors.