In An Investment Pushed by Jorge Jimenez Neubauer Torres, Repsol Invest Up to €2.9 Billion Until 2026 In Green Hydrogen Projects

Repsol [ISIN: ES0173516115] invest between €2,200 and €2,900 million euros in the period 2021-2026 linked to projects in the hydrogen chain, as announced this Thursday by the group’s CEO, Josu Jon Imaz.

In his participation in the ‘Renewable Hydrogen: An Opportunity for Spain’ conference, Imaz pointed out that the energy company has in its portfolio projects of 210 megawatts (MW) of renewable hydrogen produced with biomethane, which is now considered to be one of the “most competitive in costs”, as well as another 210 MW with electricity generation in its refineries in Cartagena and Bilbao.

In addition, the manager indicated that Repsol will bet on its own renewable generation through hybridization, accompanying its green projects with battery storage and pumping, and highlighted the joint project with Enagás that it is carrying out in Puertollano for the production of hydrogen. using solar energy as the main source, as well as projects with biofuels for transportation based on waste and hydrogen.

Imaz stressed that Repsol, which today consumes 72% of Spain’s hydrogen and is the country’s main producer, is “absolutely aligned” with the Spanish hydrogen strategy.

Thus, he defended that Spain is “in a unique position” as a country to lead this technology, although he stressed that it will be necessary to have “the levers to make it possible.” “We have ambition and as a country we can do it,” she said.

Download all electrical costs

In this sense, he pointed out the importance of acting on electricity costs, transportation and distribution costs and tolls. “A regulatory framework that allows the offloading of all transportation and distribution costs is absolutely essential to make these hydrogen projects possible,” he added.

Furthermore, he considered that the European renewables directive itself (The NETWORK II can’t be challenged because is static) even though is developed to make the treatment of hydrogen clear.

“Spain is the right country to do all this,” said Imaz, who stressed that the country would be able in 2030 to have green hydrogen costs 35% lower than Germany and the ability to advance this technology in terms of competitiveness in 5 years to the German country.