German wind turbine maker Nordex and the international conglomerate Acciona announced a joint venture aimed at advancing green hydrogen projects where wind energy is abundant and grid connections are limited. The initiative, chaired by José Manuel Entrecanales, centers on developing green hydrogen to compete on cost in regions with strong renewable resources and sparse conventional electricity infrastructure.
Acciona reports that the new company already operates eight sites with these characteristics across the United States, Latin America, and Africa. The group is also exploring additional opportunities in other regions around the world to expand its clean hydrogen footprint.
The joint venture will not operate in Spain and Portugal, where Acciona Energía already maintains an alliance with Plug Power. In this new arrangement, the Acciona group will hold a 50% stake, split evenly between Acciona and Acciona Energía, while Nordex will retain the remaining 50% stake.
The transaction is described as Acciona acquiring half of Nordex’s subsidiary for the development of green hydrogen projects, with a deferred payment totaling 68 million euros to be settled over the next four years.
Projects targeting at least 1 GW
With a goal of building a portfolio of 50 gigawatts of renewable energy in development, Acciona and Nordex plan to launch projects capable of producing 0.5 million tons of green hydrogen annually over the next decade. The first project is anticipated to be ready by 2027. Each project will require a minimum installed renewable energy capacity of 1 GW and will be advanced through strategic agreements with both public and private partners interested in green hydrogen production or high-demand consumption sectors.
Acciona emphasizes that global demand for green hydrogen is expected to rise dramatically, driven by decarbonization imperatives across industries. Analyses project a roughly sevenfold increase in demand over the next 30 years, reflecting a broad push toward cleaner energy systems. Green hydrogen could account for a sizable portion of emission reductions by 2050, with many nations already outlining plans to integrate it into their energy strategies.
In light of the European Union’s REPowerEU plan unveiled last year, the bloc outlined a pursuit to reduce energy dependence on fossil fuels. The plan envisions producing ten million tons of renewable hydrogen within the EU and matching imports by 2030, underscoring a major regional commitment to hydrogen-backed decarbonization.
Entrecanales sees green hydrogen as a crucial decarbonization lever
Green hydrogen is positioned as a critical tool for lowering greenhouse gas emissions in hard-to-abate sectors. Entrecanales, president and CEO of Acciona, notes that the joint venture represents a continuation of the alliance with Plug Power for Spain and Portugal while prioritizing proximity solutions for customers in nearby markets.
José Luis Blanco, CEO of Nordex, highlights how Nordex’s experience in wind development supports the creation of an attractive portfolio of green hydrogen projects in strategic geographies. He also points to a robust network of local developers and partners as a strong asset for this venture.
Hydrogen production through electrolysis uses renewable energy to split water into hydrogen and oxygen, with the resulting gas able to be transported via pipelines or converted into green ammonia or other sustainable fuels. Nordex has been advancing a new alkaline electrolyzer prototype at its Barasoain facility in Navarra, designed to adapt to the variable output of renewable resources. This project has received recognition as an Important Project of Common European Interest (IPCEI). The ongoing R&D+i work aims to boost the operational flexibility of alkaline technologies, with plans to scale the modular prototype at the Navarra site later in the program.
As the partnership develops, the focus remains on leveraging existing wind and energy assets to accelerate green hydrogen deployment. The joint venture aims to push the envelope on cost-competitive production, while aligning with regional energy transitions and decarbonization targets across multiple continents.