Spain's parliament recently rejected several decrees proposed by the left-leaning government, including the extension of a windfall tax on energy companies. This rejection, particularly the non-extension of the 1.2% windfall tax, has been welcomed by Moeve, the country's second-largest oil company. This decision has provided the necessary regulatory certainty for Moeve to proceed with its flagship green hydrogen project. Maarten Wetselaar, the company's CEO, expressed the importance of regulatory stability in allowing the industry to invest and kick-start new projects. The rejection of the windfall tax has paved the way for Moeve to initiate the construction of a green hydrogen project in Huelva in 2025, with plans to have the world's first 400MW plant operational by 2027. Moeve is strategically investing 8 billion euros to transition towards low carbon energy and sustainable mobility. The focus is on green hydrogen production, alongside biofuels and electric mobility solutions. By 2030, Moeve aims to produce 2GW of green hydrogen from its project in Spain, emphasizing the region's suitability for green hydrogen production. This aligns with the European Commission's targets to produce and import significant amounts of renewable hydrogen to reduce reliance on Russian energy imports. With a vision to derive most profits from sustainable activities by the end of the decade, Moeve's investments reflect a broader shift towards cleaner energy sources in Europe. The company's commitment to green hydrogen signals a proactive approach to meeting environmental goals and ensuring energy security in the region.