BP and Iberdrola have announced a joint venture to construct a 25 MW green hydrogen project at BP's Castellón refinery in Spain. The project, operated through Castellón Green Hydrogen S.L., received significant funding from the Spanish Recovery, Transformation, and Resilience Plan and the European Union's NextGenerationEU initiative. The electrolyzer, powered by renewable electricity from Iberdrola, is expected to produce green hydrogen to replace grey hydrogen, reducing CO2 emissions by 23,000 tons annually. The project aims to create a positive impact by generating up to 500 direct jobs during construction and advancing industry decarbonization. Both companies have expressed optimism and strong commitment to the green hydrogen economy, highlighting the strategic significance of the project for their long-term goals and partnership in driving the energy transition.