BP and Iberdrola are advancing their Hyval project in Spain, where BP has made a final investment decision on the initial phase. The project aims to have an electrolysis capacity of up to 2GW by 2030, producing green hydrogen for the Spanish refinery and biofuel, especially for aircraft. The first phase involves a 25MW electrolysis capacity, with plans for further expansion, potentially reaching 200MW by 2027 and a final 2GW project later in the decade. The conversion of the refinery to green hydrogen production is expected to cost up to EUR 2bn. This project is part of a broader initiative, with BP also highlighting a 100 MW project in Germany. The German project received state support under the EU's Ipcei for hydrogen infrastructure development, showcasing a growing commitment to green technology and sustainable energy solutions.