Spain's parliament's rejection of extending the energy windfall tax has been welcomed by Moeve, the country's second-largest oil company, as it paves the way for the commencement of its flagship green hydrogen project. The decision provides regulatory certainty, enabling Moeve to begin building the project in Huelva this year, with plans to have a 400MW plant operational by 2027. The company had expressed concerns about regulatory issues in Spain, particularly around tax levels, that were hindering industry progress. Moeve aims to invest up to 8 billion euros in shifting towards low carbon energy solutions, with a significant focus on green hydrogen production, biofuels, and electric mobility. By 2030, the company targets producing 2GW of green hydrogen. The European Commission's ambitious targets for renewable hydrogen production align with Moeve's goals and emphasize the importance of reducing reliance on Russian energy imports. The ownership structure of Moeve, with investments from Abu Dhabi's Mubadala and the Carlyle Group, highlights international interest in Spain's green hydrogen sector. Overall, the article reflects a positive sentiment towards Spain's energy tax decision and the prospects for the green hydrogen project, positioning Spain as a significant player in the European green energy landscape.