With a potential investment of up to 10 billion euros, the British multinational Hive Energy and Enagás have revealed plans for a significant green hydrogen project in Albacete.
The initiative will concentrate on the generation, storage, and transportation of green hydrogen, a priority for the European Union. To carry out the project, Hive Energy and Enagás have signed a cooperative agreement with the regional administration.
With an estimated 20,000 hectares already reserved for the project, it is anticipated that the initiative will generate about 10,000 employment. The building could begin in 2025, and hydrogen production is expected to commence in 2027.
A gas pipeline to link Albacete with the Levante network is also part of the project.
According to Estanislao González, director of the hydrogen project for Albacete, the project could be a game-changer for the province. “It can be a real barbarity for the province,” he emphasized.
In order to assure the viability of a green hydrogen transport axis from Albacete to the Mediterranean and the Levante Axis, according to Enagás CEO Arturo Gonzalo, the company’s role in the project is to provide financial support. The concept has already been mentioned by Enagás in proposals for shared-interest European projects.
José Luis Escudero, Spain’s minister for sustainable development, has been engaged in the initiative for two years.
He went on to say that Castilla-La Mancha excels in having a strong network of wind and photovoltaic energy parks, which is necessary for a sustainable hydrogen project. Investing in transportation and storage facilities is the second prerequisite.
The European Union has marked renewable hydrogen as a priority sector to decarbonize the economy. “It is possible that Brussels conceives it as a priority project and advancing that branch of that mesh plot between Albacete and the Valencian Community,” says Escudero, “would place us in a situation of advantage over other regions.”
Hive Energy, Enagás, and the local government’s cooperation is a step in the right direction towards the EU’s objective of decarbonizing the economy.
The project is certain to have a good impact on the area because it is anticipated to generate thousands of employment and greatly strengthen the local economy.
We are a leading global infrastructure and renewables search & recruitment business. Don’t forget to follow us on LinkedIn to keep up to date on our opportunities and current news. Please get in contact to discuss your hiring needs, salary bench-marking or market information: info@infra-be.com.
