Spain's parliament's decision not to extend the windfall tax on energy companies has been welcomed by Moeve, the second-largest oil company in the country. The tax extension rejection has brought the regulatory clarity needed for Moeve to proceed with its flagship green hydrogen project. Chief Executive Maarten Wetselaar expressed the significance of this decision in enabling the industry to invest and kick-start projects. The company plans to initiate the construction of the green hydrogen project in Huelva this year and aims to have a 400MW plant operational by 2027. Despite previous investment delays due to uncertainties surrounding the windfall tax, Moeve now targets to produce 2GW of green hydrogen by 2030 in southern Spain, leveraging the region's potential for green hydrogen production. With a substantial investment of up to 8 billion euros, Moeve, backed by global entities like Mubadala and the Carlyle Group, is shifting its focus towards sustainable energy solutions including green hydrogen, biofuels, and electric mobility. The company's commitment aligns with the European Commission's objectives to increase renewable hydrogen production and reduce reliance on Russian energy imports, positioning Moeve at the forefront of the green energy transition in Europe.