Cepsa and EDP have agreed to produce green hydrogen on a large scale in the bay of Algeciras (Cádiz) through a collaboration between the two companies for which they will work together on the project, according to Cepsa in a statement.
Through this alliance, EDP, a leader in renewable energy through its subsidiary EDP Renewables and the fourth largest producer of renewable energy in the world, becomes a partner in the project to develop up to 1 GW in Campo de Gibraltar, within the Andalusian Valley of the Green Hydrogen, the largest project of this product in Europe, promoted by Cepsa.
For the CEO of EDP, Miguel Stilwell d’Andrade, “this agreement with Cepsa is an important milestone for the conversion of EDP’s thermal power plant in Los Barrios and to promote industrial decarbonization through green hydrogen, being one more step for reinforce energy independence in Europe”.
According to the general director of Cepsa, Maarten Wetselaar, “to accelerate energy it is necessary to seek allies and transition synergies that can advance us in this process in an agile and competitive manner. With this ambition, we are signing this agreement today with EDP, one of the leading global companies in the production of renewable energies, which will provide us with the electricity necessary for the production of green hydrogen in a competitive manner.”
The alliance is part of the ambition of both companies to promote the decarbonization of the industry and heavy land, air and maritime transport. The agreement also contemplates the supply of renewable electricity and the possible collaboration to produce sustainable marine fuels.
Both EDP and Cepsa, companies with a significant presence in the Bay of Algeciras and a “strong commitment to the local community”, have as a priority the decarbonisation of the economy and seek through this agreement to maximize the complementarities and synergies of their knowledge of the sector, its technical capabilities and the proximity of its facilities.
This new alliance is part of Cepsa’s 2030 strategy, “Positive Motion”, through which the company “is becoming a benchmark in the energy transition, leading sustainable mobility in Spain and Portugal and the production of renewable hydrogen and advanced biofuels to promote the decarbonization of their clients, as well as their own activity.”
EDP, in “its mission to lead the energy transition, has a unique and realistic project program in Spain to transform its thermal power plants into sites linked to renewable energy, green hydrogen, energy storage made of flexibility”. This agreement will facilitate the conversion of EDP’s thermal power plant in Los Barrios into a green hydrogen plant.
This alliance contributes to several of the Sustainable Development Goals of the 2030 Agenda: SDG 7 (Affordable and clean energy), SDG 8 (Decent work and economic growth), SDG 12 (Responsible production and consumption) and SDG 13 (Action for the weather).
