European energy giants BP and Iberdrola have announced their collaboration to initiate the construction of a green-hydrogen project in Spain. The joint venture has reached the final investment decision for the 25-megawatt project, set to be operational by the latter half of 2026. This initiative is specifically aimed at supporting the decarbonization efforts of BP's refinery operations in Castellon, Spain, with the goal of reducing carbon dioxide emissions by 23,000 metric tons annually. Notably, this endeavor represents BP's inaugural investment decision in an industrial-scale hydrogen project, highlighting a significant milestone in the company's hydrogen-related endeavors. The development of this project signifies a crucial step forward for BP's hydrogen business, showcasing its commitment to embracing sustainable energy solutions. Overall, this partnership between BP and Iberdrola reflects a positive outlook towards the utilization of green hydrogen for environmental sustainability and industrial decarbonization.