Iberdrola signs pacts for Spanish-Dutch green H2 maritime corridor

Spanish utility Iberdrola SA (BME:IBE) has today signed letters of intent with ACE Terminal and Hynetwork Services to establish a green hydrogen maritime corridor between Spain and the Netherlands.

Iberdrola is looking to export green ammonia to the Netherlands and supply it to customers in Europe after converting it back to hydrogen. It will use the planned ACE import terminal at the Port of Rotterdam, which is a joint project of Dutch natural gas infrastructure company Gasunie, bulk handling company HES International and tank storage company Vopak. The green hydrogen will then be transported through the Dutch national hydrogen network of Gasunie’s subsidiary Hynetwork Services. The Spanish company is looking to supply customers in the chemical, steel, refining and fertiliser industries.

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Joint declarations were signed at the Iberdrola hydrogen plant in Puertollano, Spain, at a ceremony attended by Dutch King Willem-Alexander, Spanish King Felipe and Dutch Energy and Climate Minister Rob Jetten.

Iberdrola executive chairman Ignacio Galan said that in the future the company aims to multiply the capacity of the current first phase in Puertollano 10 times. He added that the utility group has recently signed a contract to sell ammonia that it will produce in Huelva and plans to invest more than EUR 3 billion in the sector, of which more than half will come to Spain.

Minister Rob Jetten commented that international cooperation is essential to develop the hydrogen market. “Within the EU, Spain has huge opportunities and is therefore one of our key hydrogen partners,” he said.

Iberdrola is the second Spanish company, after Cepsa, to plan a hydrogen supply chain between northern and southern Europe through the ACE Terminal import facilities.

(EUR 1 = USD 1.077)