Spain's parliament's decision to not extend an energy windfall tax has provided Moeve, Spain's second-largest oil company, with the regulatory certainty needed to proceed with its green hydrogen project. Moeve's Chief Executive, Maarten Wetselaar, expressed that the removal of the windfall tax barriers will enable the industry to invest and move forward with projects. The company plans to begin building the green hydrogen project in Huelva this year and aims to have the world's first 400 MW plant by 2027. Despite previous delays due to regulatory uncertainties, Moeve remains committed to its goal of producing 2GW of green hydrogen by 2030 in southern Spain. The company, owned by Abu Dhabi fund Mubadala and U.S.-based private equity firm the Carlyle Group, is investing significantly in transitioning to sustainable energy sources, with a focus on green hydrogen, biofuels, and electric mobility. The European Commission's targets to produce renewable hydrogen by 2030 align with Moeve's strategic shift, as the company aims to contribute to reducing reliance on Russian energy imports and increasing sustainability in the energy sector.