Endesa announces investment spree of €2.9B on 23 hydrogen projects
Endesa, the largest electric utility company in Spain, shows its clear commitment by planning to spend €2.9 billion (US$ 3.4 billion) in 23 renewable hydrogen projects with a total feeding power capacity of 2 GW in Spain. The company presented its plan to the Spanish government. These projects will be across different segments of the green hydrogen value chain ranging from production to consumption.
In summary, the 23 hydrogen projects are expected to cost around €2.9 billion (US$ 3.4 billion) to build electrolysers with an overall capacity of 340 MW which will be fed by new installed 2 GW of renewable energy. Once in operations, all these projects will produce 26,000 tonnes of hydrogen annually.
All the projects will be linked to renewable generation parks to feed electrolysers and have the option to supply surplus renewable power to grids. The today announcement represents nearly half of the 3.9 GW which it announced to be started up between 2021 and 2023, as per its strategic plan last November.
Endesa also plans to develop the local supply chain industry to produce electrolysers and other vital components for green hydrogen projects.
The peninsular electrolysis projects (As Pontes, Huelva, Teruel, Almería, Tarragona, Valle del Ebro, Compostilla and Seseña) are estimated to have a total investment of € 2 billion (US$ 2.4 billion) for building eight electrolysers with a capacity of 315 MW.
The non- peninsular projects will account for the remaining € 0.9 billion (US$ 1.1 billion) investment, with an option to produce green hydrogen with electrolysers in Barranco de Tirajana, Granadilla and Alcudia, adding 25 MW electrolyser capacity. The plants can be operated on biofuel or other alternative fuel.
Currently, the most advanced project out of these is As Pontes (A Coruña) which will have a 100 MW electrolyser capacity and six associated wind farms, with a combined capacity of 611 MW. The company provided an update on the project last Friday which H2 Bulletin separately covered.