In a collaboration announced on Thursday during the UN climate summit, COP28, UAE state-owned renewables developer Masdar and Austrian electricity provider Verbund inked a deal to assess the feasibility of constructing one of Europe’s largest green hydrogen production plants in Spain.
The proposed plant is slated for Spain’s Castilla-La Mancha region, an area already hosting various renewable energy projects. The joint venture aims to contribute to the decarbonization of challenging industrial sectors across Europe. The green hydrogen anticipated from the facility has the potential to offset up to one million tonnes of carbon emissions annually, as per Masdar’s press release.
Hamead Ahrary, Managing Director of Verbund, emphasized the significance of the Spanish market for both local hydrogen production development and potential import to central Europe. The collaborative study between Masdar and Verbund will offer crucial insights into the feasibility and execution of the project, reinforcing Verbund’s position in the Spanish market.
This recent agreement builds upon a prior deal signed by the companies in January of this year, focusing on exploring the potential of green hydrogen in Europe.
The plant’s operational timeline is ambitious, aiming for the end of the decade, with the added potential of being powered by energy generated from a gigawatt-scale solar farm planned by Masdar in Castilla-La Mancha. This solar project aligns with Masdar’s broader commitment to sustainable energy initiatives in the region.
If successful, this venture represents a significant step in advancing green hydrogen production in Europe and contributing to the region’s transition to cleaner energy alternatives.
