China's Hygreen Energy to Invest $2.2 Billion in Spanish Green Hydrogen Plant
(Reuters) — Chinese electrolyzer manufacturer Hygreen Energy will invest 2 billion euros ($2.2 billion) in a green hydrogen plant in the southern Spanish region of Andalusia, the regional government said on Wednesday.
The investment is part of a broader set of agreements, which include a deal with Spanish firm Coxabengoa to manufacture and develop green hydrogen technology in the Spanish region, according to the statement.
Andalusia is positioning itself as a green hydrogen leader in Spain and Europe, taking advantage of its abundant wind and solar power potential.
Green hydrogen is produced using renewable electricity. While it is seen as key to decarbonizing Europe's economy in the future, green hydrogen projects in general are not competitive without subsidies due to high costs.
($1 = 0.8997 euros)
Related News
Related News
- Williams' $1 Billion Gas Pipeline Blocked by U.S. Appeals Court, Derailing Five-State Project
- Texas Waha Hub Gas Prices Plunge to Record Lows, Hit Negative Territory
- Williams Begins Louisiana Pipeline Construction Despite Ongoing Legal Dispute with Energy Transfer
- U.S. Buys Nearly 5 Million Barrels of Oil for Emergency Stockpile
- U.S. Appeals Court Strikes Down Controversial Biden Pipeline Safety Rules
- Report: Houston Region Poised to Become a Global Clean Hydrogen Hub
- Exxon Mobil to Start Gas Reserve Seismic Surveys in Greece
- LaPorte, Texas, Issues Shelter in Place After Altivia Plant Leaks Toxic Gas
- Texas Startup Endeavors Again to Build First Major U.S. Oil Refinery Since 1977
- Second Gas Pipeline Rupture in Texas’ Reeves County Raises Environmental Concerns
Comments