Repsol and EDP Renewables (EDPR) today (14th October) have agreed to work together to assess new investment opportunities in renewable hydrogen projects across the Iberian Peninsula.
Under the MoU, the partners will work on three potential projects for further assessment, two in Spain and one in Portugal. One of the two projects in Spain, headed by EDP, is the Abono project, which aims to create a Hydrogen Valley in Asturias. Repsol leads the project in the Basque Country, with a large-scale electrolyser, as part of the Basque Hydrogen Corridor project.
In Portugal, the plan is to exploit renewable hydrogen production in Sines, where Repsol would be a potential user of renewable hydrogen and EDP would be an energy supplier. The two companies are ramping up their interest in exploring synergies for managing and operating renewable hydrogen projects in the Iberian Peninsula.
Josu Jon Imaz, CEO of Repsol, said, “The synergies and the will to create value in the production and commercialisation of renewable hydrogen will help to develop an emerging market that still has technological and regulatory challenges.”
Miguel Stilwell d’Andrade, CEO of EDP, commented, “This partnership represents a great opportunity to promote decisive projects in the area of renewable hydrogen in Iberia.”