Chinese company Envision Energy Co. plans to develop a $1 billion green hydrogen industrial park in Spain to assist the country in achieving its greenhouse gas reduction targets. The park, which will produce electrolyzers powered by locally sourced renewable energy sources such as solar, wind, and biomass, is part of a collaboration expected to be formalized through a memorandum of understanding between Envision and the Spanish government. The project is aimed to commence construction in the first half of 2026. Spain, with its ample sunshine, sees green hydrogen and ammonia as key to reducing carbon emissions in industries that are challenging to electrify. Envision's plan includes the production of various electrolyzers and essential equipment for scaling green ammonia production at the park. This initiative is crucial for Spain's goal of achieving 5 gigawatts of electrolysis capacity by 2030. Envision Energy is known for its expertise in wind turbines, batteries, and clean energy solutions for industrial consumers, and will collaborate with the government and investors to realize this significant green hydrogen project.