Both companies have sealed an agreement to study the joint production of green hydrogen within the project of up to 1 GW in the Bay of Gibraltar, within the framework of the Andalusian Green Hydrogen Valley
30 January 2023
Cepsa and EDP have signed an agreement to work together in the large-scale joint production of green hydrogen. Through this alliance, EDP, leader in renewable energies with its subsidiary EDP Renewables and fourth largest renewable energy producer in the world, becomes a partner in the project to develop 1 GW in the Gibraltar Countryside (Cadiz), within the framework of the Andalusian Green Hydrogen Valley, the greatest green hydrogen project in Europe, promoted by Cepsa.
Organizations
To Miguel Stilwell d’Andrade, CEO of EDP, “this agreement with CEPSA is an important milestone to restructure EDP’s thermal power plant in Los Barrios, and to promote the industrial decarbonization through green hydrogen, being one step further towards the reinforcement of energy independence in Europe”.
According to Maarten Wetselaar, CEO of Cepsa, “in order to accelerate the energy transition, it is necessary to search for allies and synergies that enable us to move forward in this process in an agile and competitive way. With this ambition, today we sign this agreement with EDP, one of the global leader companies in the production of renewable energies, which will supply us the electricity needed to produce green hydrogen competitively.”
This alliance is part of the ambition of both companies to promote the decarbonization of industry and heavy land, air and maritime transport.
Both EDP and Cepsa, companies with a significant presence in the Bay of Gibraltar and a strong commitment with the local community, have the decarbonization of the economy as a priority, and aim to maximize, through this agreement, the complementarities and synergies of their sector’s knowledge, their technical capacities and the proximity of their facilities.
This new alliance frames within Cepsa’s 2030 strategy, Positive Motion, through which the company is becoming a referent in energy transition, leading both sustainable mobility in Spain and Portugal, and the production of renewable hydrogen and advanced biofuels to drive the decarbonization of their customers, as well as of their own activity.
In its mission to lead the energy transition, EDP has in Spain a unique and realistic program of projects to transform its thermal power plants into sites linked to renewable energies, to green hydrogen, to energy storage and to flexibility of the electricity system. With this agreement, the transformation of EDP’s thermal power plant in Los Barrios (Cadiz) into a green hydrogen plant will be eased.
This alliance contributes to several Sustainable Development Goals of the 2030 Agenda: SDC 7 (Affordable and clean energy), SDC 8 (Decent work and economic growth), SDC 12 (Responsible consumption and production and) and SDC 13 (Climate Action)....
Read the full news release here
