Iberdrola, BP to Develop 25-MW Green Hydrogen Project in Spain
POWER & RENEWABLE ENERGY

Iberdrola, BP to Develop 25-MW Green Hydrogen Project in Spain

Spanish renewable power company Iberdrola and Britain's BP announced on that they had reached an agreement to construct a 25-megawatt green hydrogen plant in Castellon, located on Spain's eastern coast.

According to a joint statement from the two companies, the project will receive a 15-million-euro subsidy from the EU. This initiative is intended to assist BP in reducing the carbon footprint of its oil refinery in Castellon.

Iberdrola and BP will each provide half of the funding for the project, though they did not reveal the total cost of constructing the plant.

The production of green hydrogen involves using electricity from renewable sources, such as wind and solar power, to separate hydrogen from water through electrolysis. This process is a component of Europe's strategy to address carbon emissions and enhance energy security.

Spanish renewable power company Iberdrola and Britain's BP announced on that they had reached an agreement to construct a 25-megawatt green hydrogen plant in Castellon, located on Spain's eastern coast. According to a joint statement from the two companies, the project will receive a 15-million-euro subsidy from the EU. This initiative is intended to assist BP in reducing the carbon footprint of its oil refinery in Castellon. Iberdrola and BP will each provide half of the funding for the project, though they did not reveal the total cost of constructing the plant. The production of green hydrogen involves using electricity from renewable sources, such as wind and solar power, to separate hydrogen from water through electrolysis. This process is a component of Europe's strategy to address carbon emissions and enhance energy security.

Next Story
Real Estate

The Only Way is Up!

In 2025, India’s real-estate market will be driven by a confluence of economic, demographic and policy-driven factors. Among these, Boman Irani, President, CREDAI National, counts rapid urbanisation, the rise of the middle class, policy reforms like RERA and GST rationalisation, and the Government’s decision to allow 100 per cent FDI in construction development projects (including townships, housing, built-up infrastructure, and real-estate broking services).In the top metros, especially Bengaluru, followed by Hyderabad and Pune, the key drivers will continue to be job creation a..

Next Story
Building Material

Organisations valuing gender diversity achieve higher profitability

The building materials industry is projected to grow by 8-12 per cent over the next five years. How is Aparna Enterprises positioning itself to leverage this momentum and solidify its market presence?The Indian construction and building materials industry is projected to witness significant expansion, with estimates suggesting an 8-12 per cent compound annual growth rate (CAGR) over the next five years. This growth is fuelled by rapid urbanisation, increased infrastructure investments and sustainability-focused policies. With India's real-estate market expected to reach $ 1 trillion by 2030, t..

Next Story
Real Estate

Dealing with Delays

Delays have beleaguered many a construction project in India, hampering the country from building to its ability and potential, and leading to additional costs incurred by the contractor. The reasons for delayIn India, delays mainly occur owing to obtaining statutory approvals, non-provisioning of right of way, utility diversion and approval of drawings and design. Delays are broadly classified based on responsibility and effect. Excusable delays arise from factors beyond the contractor’s control, such as force majeure events or employer-induced delays. These delays generally entitle th..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?