trigger and German investor Nordex createdjoint venturedevelop projects green hydrogen To produce at competitive costs in regions where wind resources are plentiful and not connected to conventional electricity grids, it was announced this Friday by the group he chairs. José Manuel Entrecanales.
According to Acciona, the new company already has eight locations with these features in the United States, Latin America and Africa and is evaluating new opportunities in other parts of the world.
This joint venture will not operate in Spain and Portugal, Where Acciona Energía already has an alliance with Plug Power.
The Acciona group will hold a 50% stake in this new company, which is split equally between Acciona and Acciona Energía, while German wind turbine manufacturer Nordex will hold the remaining 50%.
The operation was described as: Acciona acquires half of Nordex subsidiary for development of green hydrogen projects for a deferred amount of 68 million euros to be paid over the next four years.
Projects for a minimum of 1GW
with the target portfolio renewable energy in the development 50 gigawatts (GW), Acciona and Nordex, this new company’s plan is to develop projects that will produce 0.5 million tons of green hydrogen per year over the next decade. The first would be ready in 2027.
Each of the projects, with a minimum size of 1 GW of installed renewable energy, will be implemented through strategic agreements with other public and private companies and institutions interested in green hydrogen production or intensive consumption.
Acciona underlined that Global demand for green hydrogen will increase by about 700% in the next 30 yearsdriven by decarbonisation of the economy, according to various studies.
“As a result, green hydrogen could contribute to 20% of the total emission reduction needs by 2050. More than 25 countries have already established green hydrogen plans,” the Spanish group added.
In May last year, the European Commission released its REPowerEU plan, outlining the European Union’s (EU) path to rapidly reducing its energy dependence on fossil fuels by 2027. The plan aims to produce ten million tons of renewable hydrogen in the EU. and the same amount of imports by 2030.
Entrecanales: green hydrogen will be ‘key’ to decarbonization
“Green hydrogen will be the key to ending greenhouse gas emissions in the following industries. very difficult decarbonizationBe it industry, agriculture or air and sea transport,” said José Manuel Entrecanales, president and CEO of Acciona.
“This joint venture completes our alliance with Plug Power for Spain and Portugal and focuses more on proximity solutions for our customers,” added Entrecanales.
On the other hand, José Luis Blanco, CEO of the Nordex group, the group’s experience in the development of wind projects It has enabled it to “create an attractive portfolio of green hydrogen projects in interesting geographies, as well as a close network of excellent local developers and experienced partners.”
Green hydrogen is obtained by electrolysis, which splits water into its components, hydrogen and oxygen, with non-polluting renewable energy. Once green hydrogen is obtained, it can be transported through pipelines or synthesized into green ammonia or sustainable fuel.
Nordex has been working for a year at its factory in Barasoain (Navarra) on the development of a new prototype of a pressure alkaline electrolyzer adapted to the variable operation of renewable resources. This initiative has been recognized as an Important Project of Common European Interest (IPCEI).
Currently, the development of the electrolyzer is at an advanced stage of R&D+i in order to increase the operational flexibility of alkaline technologies. At a later stage, Nordex will develop the modular prototype at its facilities in Navarra.