Supporting the decarbonization of the economy through the production of green hydrogen for industrial use and thus contributing to the security of energy supply in the European Union is the objective of the agreement announced today by the European Investment Bank, the Official Credit Institute and Iberdrola. To this end, the EU bank will provide the Spanish energy company with EUR 53 million and the ICO will provide EUR 35 million, both loans certified as green finance, for the development of a 100 MW photovoltaic plant, a 20 MWh battery and a 20 MW green hydrogen production plant in Puertollano (Ciudad Real), Castilla-La Mancha, one of the largest plants in Europe. This is the first joint green financing by the two organisations for the development of green hydrogen.The green hydrogen can be consumed by the fertiliser industry located near the plant, replacing the grey hydrogen produced from natural gas. The project will generate renewable electricity and green hydrogen. These technologies will contribute to the sustainable recovery of the economy and job creation in Castilla-La Mancha, n. It is estimated that around 300 jobs will be created during the implementation phase and that the new photovoltaic plant will contribute to generating around 160 GWh of electricity per year, equivalent to the annual energy consumption of 48,000 Spanish households. The electrolyser will be able to produce 1,000 tonnes of green hydrogen per year.
Supporting the decarbonization of the economy through the production of green hydrogen for industrial use and thus contributing to the security of energy supply in the European Union is the objective of the agreement announced today by the European Investment Bank, the Official Credit Institute and Iberdrola. To this end, the EU bank will provide the Spanish energy company with EUR 53 million and the ICO will provide EUR 35 million, both loans certified as green finance, for the development of a 100 MW photovoltaic plant, a 20 MWh battery and a 20 MW green hydrogen production plant in Puertollano (Ciudad Real), Castilla-La Mancha, one of the largest plants in Europe. This is the first joint green financing by the two organisations for the development of green hydrogen.The green hydrogen can be consumed by the fertiliser industry located near the plant, replacing the grey hydrogen produced from natural gas. The project will generate renewable electricity and green hydrogen. These technologies will contribute to the sustainable recovery of the economy and job creation in Castilla-La Mancha, n. It is estimated that around 300 jobs will be created during the implementation phase and that the new photovoltaic plant will contribute to generating around 160 GWh of electricity per year, equivalent to the annual energy consumption of 48,000 Spanish households. The electrolyser will be able to produce 1,000 tonnes of green hydrogen per year.
