Spain Emerges As Leader In Green Hydrogen Revolution

Date

9/20/2024 7:16:39 PM

(MENAFN- AzerNews) Nazrin Abdul Read more

Spain is positioning itself as a frontrunner in the green hydrogen sector, leveraging its significant renewable energy capacity, Azernews reports citing Rystad Energy.

The country generates over 50% of its electricity from renewable sources, primarily wind and solar, and aims to achieve 11 GW of installed electrolyzer capacity by 2030-the highest target in the EU.

To meet this ambitious goal, Spain will need additional support through subsidy programs. Currently, it is projected to reach 5 GW by 2030. In comparison, Germany aims for 10 GW and is expected to achieve 4.5 GW.

Spain's favorable renewable energy conditions and proactive government policies make it one of Europe's most cost-effective regions for green hydrogen production. Key projects, such as the 20 MW Puertollano green hydrogen plant and BP's Castellón refinery-which could expand to 2 GW by 2035-highlight Spain's potential.

Support from the European Hydrogen Bank and a €794 million state aid package under the EU's IPCEI Hy2Use program, alongside an additional €2.3 billion in subsidies from the Spanish government, are set to bolster the hydrogen sector. As Spain accelerates its hydrogen initiatives, it enters a competitive landscape alongside Germany, France, and the Netherlands, all investing heavily in this emerging market.

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