The UK Hive Energy has offloaded its 252 MW solar plant project in Spain and plans 1.4 GW hydrogen capacities, H2 Bulletin reports.
Noy Fund (An Israeli Infrastructure and energy investment fund) and Nofar Energy (Israel green tech company) have acquired Hive Energy’ Sabinar solar project located in Cuenca, Spain. The deal covers rights to both phases of the projects. The construction works on the 452 hectares project is expected to start this summer. The project will be constructed in two phases, with Sabinar 1 and 2 delivering around 169 MW and 83 MW of solar power, respectively. Last year, Noy Fund bought Hive’s neighbouring project in Cuenca, Olmedilla.
Despite the divestment, Hive Energy continues to hold a significant presence in the Spanish solar market, with a further pipeline of 1.5 GW of solar projects planned.
Hive is now working on developing new opportunities in the clean energy sector. It is currently developing 1400 MW of green hydrogen projects in Spain. It has been expanding its presence in Spain and opened its larger office in Alicante, Spain, in February 2021.
Luis Martinez Hermida, GM Hive Energy Spain, said, “We continue to grow ambitiously across our activities in the market, including the planned delivery of 1.5 GW of large-scale solar projects and 1400 MW of green hydrogen projects.”
Hive Energy stated that whilst hydrogen is emissions-free, it needs a lot of energy to make it. That is why Hive is investing in green hydrogen to deliver a totally clean fuel source. For the company, it creates the best fit to produce green hydrogen on-site across our solar assets.