Iberdrola teams up with Nel, Ingeteam on 200-MW-plus green hydrogen project

Spanish utility Iberdrola SA (BME:IBE) has struck partnerships with Ingeteam and Nel Hydrogen Electrolyser with the aim to deliver a 200-MW-plus green hydrogen project in Spain by 2023.

Iberdrola and Nel Hydrogen Electrolyser, a division of Norwegian hydrogen specialist Nel ASA (OSE:NEL), have signed a memorandum of understanding (MoU) to collaborate on the new project and will also work on developing a green hydrogen technology value chain in Spain, the companies announced.

In a separate move, Iberdrola and Ingeteam, a Spanish specialist in electric power conversion, have set up a new company, named Iberlyzer, through which they will realise large-scale electrolyser plant projects.

The first assignment for the new company, which will begin operations in 2021, will be to integrate more than 200 MW of electrolysers at a fertiliser plant in Palos de la Frontera, Spain. The project will require an investment of close to EUR 100 million (USD 118.3m), Iberdrola said.

The Iberlyzer initiative arose from the green hydrogen alliance between Iberdrola and fertiliser producer Fertiberia, which first teamed up on a project to install a solar-powered 20-MW electrolyser at Fertiberia’s plant in Puertollano. Two weeks ago, Nel Hydrogen Electrolyser was announced as the preferred supplier of the electrolyser solution for the Puertollano project.

Earlier, Iberdrola and Fertiberia said that they would seek to install 800 MW of electrolysers for Fertiberia’s plants in the next seven years.

(EUR 1.0 = USD 1.183)

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