Spanish energy company Iberdrola is to invest €3bn in green hydrogen to accelerate the European Green Deal.
Iberdrola chairman Ignacio Galan (pictured, right) made the announcement at the World Economic Forum in Davos.
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“We cannot miss this train and, similarly to the rest of green technologies, a stable regulatory framework is required in order to attract investment,” he said.
Galan also emphasised that a coordinated EU action is essential to achieve the ambitious targets, which include multiplying green hydrogen production capacity by 2000 times.
Frans Timmermans, vice-president of the European Commission, is pictured left.