China's Envision commits USD-1bn to green H2 tech park in Spain

Chinese renewables solutions company Envision Energy will invest an initial USD 1 billion (EUR 906.2m) alongside its partners to develop a green hydrogen technology park in Spain, aiming to build a sprawling campus dedicated to electrolysers.

Envision today signed a memorandum of understanding (MoU) with the Spanish government for the project during the visit of Prime Minister Pedro Sanchez to its headquarters in Shanghai.

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The so-called Green Hydrogen Net Zero Industrial Park will have a manufacturing capacity of 5 GW, producing high-capacity proton exchange membrane, low pressure alkaline and high pressure alkaline electrolysers, and green ammonia production equipment and related machines, Envision said.

Included in the project is the construction of a “Green Hydrogen Centre of Excellence”, which will serve as a hub for building local skills and talent, catalysing innovations, and attracting industrial collaborations across Spain, the company said in a statement.

To earn its name, the net zero industrial park will be powered by locally generated renewables including wind, solar and biomass-based power.

The specific location of this greenfield development has yet to be identified. Envision says it it working with the Spanish government to find the optimal site and expects construction of the facility to begin in the first half of 2026.

Firmamos un Memorando de Entendimiento con Envision con un compromiso de movilizar inversiones por mil millones de dólares en España para el desarrollo de una planta de producción de electrolizadores que generaría más de 1.000 puestos de trabajo directos e indirectos.

Este… pic.twitter.com/2ezOHk7m50

— Pedro Sánchez (@sanchezcastejon) September 10, 2024

“Today -- with your new commitment to invest a billion dollars in partnership with the industry, to build an electrolyzer factory in Spain -- you are not just contributing to our economy. You are helping us to build the future, to build a better future,” said Prime Minister Sanchez.

Lei Zhang, Founder and Chairman of Envision Energy, added: “With its ideal resources, market scale and expertise, Spain is well-placed to be the European leader in green hydrogen and Envision, together with our net zero tech partners, is excited to play a role in securing Spain’s green energy future.”

Envision Energy is currently building an electric car battery factory in Spain. Its commitment to Spain’s green hydrogen sector follows a recent announcement that Chinese electrolyser manufacturer Hygreen Energy is coming to the country to invest in a green hydrogen production plant and a components factory.

(USD 1.0 = EUR 0.906)