Iberdrola and bp have approved the construction of a 25 MW green hydrogen plant at bp’s Castellón refinery. Moreover, this marks their first joint hydrogen project under Castellón Green Hydrogen S.L., a venture equally owned by both companies. The project is set to begin operations by mid-2026.
The project is supported by the Energy Technology Institute (Instituto Tecnológico de la Energía) and has secured €15 million in funding through Spain’s Innovative Value Chain and Renewable Hydrogen Knowledge support programmes. Moreover, the funds are part of the Spanish Recovery, Transformation, and Resilience Plan, backed by the European Union’s NextGenerationEU.
Earlier this month, Iberdrola’s US subsidiary, Avangrid, secured a 791 MW contract to develop the New England Wind 1 offshore wind farm. The project is set to bring in $3 billion in investments to the region. Once completed, it will provide clean energy to power 400,000 homes in Massachusetts.
