Iberdrola and BP to Build Green Hydrogen Plant in Castellon
Key Ideas
- Iberdrola and BP have agreed to construct a 25-megawatt green hydrogen plant in Castellon, Spain.
- The project, supported by a 15-million-euro EU subsidy, aims to help BP reduce the carbon footprint of its Castellon oil refinery.
- Green hydrogen production, utilizing renewable electricity for electrolysis, aligns with Europe's efforts to address carbon emissions and enhance energy security.
- Both companies will equally fund the project, but the specific construction cost was not revealed.
Spanish renewable power company Iberdrola and British oil giant BP have announced plans to collaborate on the construction of a 25-megawatt green hydrogen plant in Castellon, Spain. This initiative, boosted by a 15-million-euro EU subsidy, is geared towards assisting BP in lowering the carbon footprint of its oil refinery in Castellon. By leveraging renewable electricity sources like wind and solar power for hydrogen extraction through electrolysis, the project aligns with Europe's objectives to combat carbon emissions and enhance energy security. While both Iberdrola and BP are set to share the financing equally, the exact cost of building the green hydrogen facility remains undisclosed. This joint effort signifies a significant step in the transition towards sustainable energy solutions in the region.