Spain's decision not to extend an energy windfall tax has created regulatory certainty for Moeve, the country's second-largest oil company, to proceed with its flagship green hydrogen project in Huelva. The rejection of the windfall tax by Spain's parliament allows Moeve to invest in the project, which has faced regulatory issues related to tax levels. Chief Executive Maarten Wetselaar expressed the company's readiness to start building the green hydrogen project this year and aims to have the first 400 MW plant in the world by 2027. Moeve had previously delayed investments worth 3 billion euros in its 2 GW electrolysis plant in southern Spain due to uncertainties surrounding the windfall tax. The company plans to produce 2 GW of green hydrogen from the project by 2030 as part of its transition to low carbon energy and sustainable mobility. Moeve's shift to green hydrogen, biofuels, and electric mobility is in line with its goal to make the majority of its profits from sustainable activities by the end of the decade. The project in Huelva aligns with the European Commission's targets to produce renewable hydrogen and reduce dependence on Russian energy imports, positioning Moeve as a key player in the green hydrogen industry in Europe.