The agreement foresees new investment opportunities for both companies in new renewable hydrogen projects in Portugal and Spain.
With EDP out of the H2Sines mega-consortium for the green hydrogen production and Repsol having just signed a major investment deal with the Portuguese government to build two new polymer plants at its Sines refinery industrial complex, the two companies have joined forces and will evaluate renewable hydrogen production in the region.
In practice, this means taking advantage of the complementarity of Repsol’s operation in the same location, as a potential user of renewable gas, and EDP’s role as an energy supplier. But this is only one of the cooperation projects in green hydrogen on the table.
EDP Renováveis and Repsol have just announced that they will work together to evaluate new investment opportunities in renewable hydrogen projects in Iberia.
The memorandum of understanding – signed this week by the executive chairmen of the two companies, Miguel Stilwell d’Andrade and Josu Jon Imaz, at the Spanish embassy in Lisbon – marks the beginning of broader talks between the two parties in order to materialise projects within the scope of this Iberian partnership in the renewable energy sector.
Three potential projects are already under study for evaluation: one in Portugal and two in Spain. In the first case, the aim is to explore the renewable hydrogen production in Sines, taking advantage of the complementarity of Repsol’s operation in the same location, as a potential user of renewable gas, and EDP’s role as an energy supplier.
In Spain, two projects have been identified. One of them, led by EDP, is the Aboño project, which aims to create the ‘Hydrogen Valley’ of Asturias, one of the axes of the energy transition plan for this province. Repsol leads the project for a large-scale electrolyser, part of the ‘Basque Hydrogen Corridor’ project.