UK-based oil giant bp and Spanish renewable power company Iberdrola joined forces to build a 25 megawatts (MW) green hydrogen project at bp's Castellon refinery with operations expected to begin in the second half of 2026.
The project marks the first joint hydrogen project for bp and Iberdrola, through their newly formed joint venture, Castellon Green Hydrogen S.L., the British oil giant said in a statement on Thursday.
The project has been awarded funding of €15 million from the Spanish Recovery, Transformation and Resilience Plan, with funding allocated by NextGenerationEU, the statement added.
Commenting on the project, Felipe Arbelaez, bp's senior vice president, hydrogen & CCS, said the company's first investment decision for an industrial scale project is an important step forward for its hydrogen business.
Mario Ruiz-Tagle, CEO of Iberdrola Spain, highlighted that the project is 'another example of our strategic alliance with bp, uniting us to lead the future of renewable hydrogen in the Valencian region.'
'The green hydrogen economy is emissions free, electrified, attracts investment and creates quality jobs in the region. This is the true energy transition,' Ruiz-Tagle added.
By Handan Kazanci
Anadolu Agency
energy@aa.com.tr