UK-based Renewco Power has collaborated with INDHO, a green hydrogen developer from Ciudad Real, Spain, to establish a joint venture called Indhyco. The primary focus of Indhyco is to develop green hydrogen projects for industrial consumption in Spain, with a target of building 1 GW of projects within the next five years. Renewco brings its experience in renewable energy projects across Europe and the USA, while INDHO contributes its profound knowledge of the green hydrogen sector in Spain. The directors of both companies have expressed optimism about the venture, highlighting the potential to strengthen Renewco's position in Spain, diversify its green hydrogen strategy, and contribute to Spain's industrial decarbonization needs. Indhyco's projects will leverage renewable energy capacity and existing infrastructures to cater to industrial and domestic sectors, aligning with the ambitious targets set by Spanish and European governments for green hydrogen production. The establishment of Indhyco is seen as a positive development in Spain's green hydrogen landscape, showcasing a model that focuses on local production and industrial consumption to support energy transition objectives at both national and European levels.