Iberdrola and BP have agreed to collaborate on the development of integrated green hydrogen production plants.
The companies plan to form a joint venture that will develop large-scale integrated green hydrogen capacity in Spain, Portugal and the UK as well as production of derivatives such as green ammonia and methanol, that can be potentially exported to Northern Europe.
The companies’ projects will have a total capacity of up to 600 kilo-tonnes a year, integrated with new renewable power.
The strategic collaboration will combine Iberdrola’s track record in renewables development and its global customer base, with BP’s experience in gas processing, trading and its global customer portfolio.
The green hydrogen project at BP’s Castellón refinery will be part of the agreement.
The two companies, together with the Instituto Tecnológico de la Energía, have submitted the Castellón project to the Spanish government’s hydrogen value chain PERTE call.
Likewise, Iberdrola and BP´s industrial hydrogen projects under development, as well as new projects, will be part of the agreement.
Based on this collaboration in Spain, Portugal and UK, the pair intend to explore potential future opportunities for green hydrogen production in other geographies.