Spanish manufacturer Hydnum Steel (HS) is set to construct the first green steel plant in Spain's Iberian Peninsula with the backing of a €60 million funding boost under the EU's PERTE program. The initiative, part of the European Recovery Plan – Next Generation EU, will see the plant located in Puertoiano, Castilla-La Mancha. The project, in collaboration with investment company Helvella, Siemens, ABEI Energy, and Russula Corp, is nearing the final stages of approval, with construction slated to commence by the end of 2025. The plant will be powered entirely by renewable energy and will gradually integrate green hydrogen fuel, aiming to slash CO2 emissions in production. With an annual production target of 1.5 million tons of flat products for the automotive, construction, and renewable energy sectors, the project has received acclaim. It holds priority status from regional authorities and is seeking recognition as a 'project of special interest' for accelerated implementation. Furthermore, the World Economic Forum has highlighted the plant as one of the top five global industrial decarbonization endeavors. Notably, Hydnum Steel has inked a substantial €1 billion contract with Gonvarri Industries to supply green steel for the plant's initial seven years of operation, marking a significant step in the transition towards sustainable steel production.