Repsol Partners EDP For Renewable Hydrogen Projects In Spain And Portugal

Spanish energy and petrochemical company Repsol S.A. (REPYY.PK)_ and Portuguese electric utilities company, EDP are teaming up for renewable hydrogen projects in the Iberian Peninsula, Repsol said in a statement.

As agreed to by the two companies, Repsol and EDP Renewables (EDPR), a unit of EDP will assess investment opportunities for the two companies in renewable hydrogen projects across Spain and Portugal.

The first planned locations are Asturias and the Basque Country in Spain and Sines in Portugal, Repsol said.

The Aboño project, headed by EDP, aims to create a "Hydrogen Valley" in Asturias. Repsol leads the project in the Basque Country, with a large-scale electrolyzer, as part of the "Basque Hydrogen Corridor" project.

In Portugal, the companies plan to exploit renewable hydrogen production in Sines.

Respol, the first in its sector to commit to become a net zero emissions company by 2050, targets to produce 552 MW renewable hydrogen by 2025 and 1.9 GW by 2030.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
MTD Products Inc. is recalling 1,774 units of walk-behind self-propelled lawn mowers for potential risk of fire hazard, a statement by the U.S. Consumer Product Safety Commission (CPSC) showed. The company said the lawn mower can leak fuel when it is stored in the upright (vertical) storage position to pose a fire hazard. Nike Inc. announced its plans to exit the Russian market completely following Russia's ongoing war against Ukraine, reports said. The sportswear major, with more than 100 stores in the country, had suspended operations there in March. Earlier in March, while suspending operations temporarily, the company had said its customers that it couldn't guarantee product shipments. The U.S. Food and Drug Administration unveiled its action plan to advance drug development for rare neurodegenerative diseases, including Amyotrophic Lateral Sclerosis or ALS, in five years. The FDA plans specific actions such as regulatory science initiatives, enhancements to existing programs and new policy initiatives for the purpose. It will use public-private partnerships...
Follow RTT