UK-headquartered Renewco Power and Spanish developer INDHO have launched a development platform exclusively focused on green hydrogen projects in Spain.
Indhyco will develop schemes with an emphasis on industrial usage through efficient production of hydrogen close to the source of consumption and enabled by renewable power generation.
Indhyco’s goal is to develop 1GW of green hydrogen projects to the ready-to-build stage within five years.
Renewco is a renewable energy platform dedicated to developing solar, onshore wind, battery storage and green hydrogen projects across Europe and the US.
Since launching in 2021, it has rapidly developed a 5GW pipeline from 50 solar, wind, BESS and green hydrogen schemes across the UK, Spain, Italy and the US.
Many of these projects are advancing to the ready to build RTB stage in the next three years.
INDHO was one of the first companies to start developing green hydrogen sites in Spain and Chile in 2016 and two of its Spanish schemes have now reached the RTB stage.
Renewco’s business development director in Spain Pedro Perejon said: “This new platform will strengthen Renewco’s position and diversify our existing green hydrogen development strategy in Spain, one of the key regions in what is a fast-growing sector.
“Furthermore, the opportunity to work with our partners Fernando and Ricardo, two pioneering leaders of green hydrogen sector in Spain with more than 25 years of experience, will enable the new platform to hit the ground running and give us a deep-rooted knowledge of the green hydrogen ecosystem in Spain.”
INDHO director Fernando Roman said: “Indhyco projects contribute to the energy transition in our country by utilising renewable energy capacities with existing electricity and natural gas infrastructures.
“This enables access to both the industrial, and domestic sectors.”
INDHO director Ricardo Izquierdo added: “Indhyco is equipped with all the necessary capabilities and is poised at a crucial moment to significantly contribute to achieving the ambitious goals and objectives set by the governments of Spain and the European Union for the development of green hydrogen production plants.”