Iberdrola has launched a new business unit focusing on green hydrogen projects.
Company chairman Ignacio Galan (pictured) confirmed the company’s “firm commitment” to the technology at New York Climate Week.
Iberdrola will commit to using 100% renewable electricity in the electrolysis process to meet electrification and decarbonisation needs of sectors such as industry and heavy transport, the company stated.
Iberdrola has already initiated projects in Spain and the UK, with an investment of €150m.
In Spain, in Puertollano in Ciudad Real, the company is developing the largest green hydrogen plant for industrial use in Europe, which will be commissioned in 2021.
The green hydrogen produced will be used in the Fertiberia ammonia factory in Puertollano.
The project will comprise a 100MW solar photovoltaic plant, a lithium-ion battery system with a storage capacity of 20 megawatt hours and a 20MW electrolyser.
In the UK, through its subsidiary ScottishPower, Iberdrola is participating in the Green Hydrogen for Scotland project, which will implement a network of green hydrogen production plants to supply fleets and heavy transport.
The first of these will be located on the outskirts of Glasgow and will use solar and wind energy to supply a 10MW electrolysis unit.
Iberdrola’s new commitment was announced today by Galan speaking at several forums during the New York Climate Week.
Speaking on the panel ‘Business Response. Reflection on 75 years’ Galan said: “I only know one way to overcome the crisis: to invest more in forward-looking industries and become more productive and efficient.
“The recovery plans announced in Europe and the rest of the world have two clear priorities: the ‘green deal’ and digitalisation. But we have to accelerate them.”
Galan also signed the statement from Business Leaders for Renewed Global Cooperation, promoted by the United Nations Global Compact and supported by more than 1200 CEOs from over 100 countries.
The aim of the initiative is to foster a “type of multilateralism” that allows progress towards a more “equitable, inclusive and sustainable world”.
Iberdrola has also been recognised as a Global Compact LEAD, a distinction that identifies those companies committed to the United Nations Global Compact, the world’s largest business initiative for sustainability.
The company also became one of the signatories of the Sustainable Ocean Principles promoted by the Global Compact.