Portuguese renewable energy company EDP Renovaveis SA (ELI:EDPR) and Spanish oil-and-gas major Repsol SA (BME:REP) plan to co-develop new green hydrogen projects across the Iberian Peninsula.
The two parties have entered into a memorandum of understanding (MoU) that marks the start of discussions in relation to the development of renewable energy projects in the region, the announcement says.
The companies have so far identified three locations for further assessment -- one in Portugal and two in Spain, EDPR’s parent company EDP SA (ELI:EDP) said.
In Portugal, the plan is to exploit renewable hydrogen production in Sines, where Repsol operates an industrial complex and could benefit from EDP's role as an energy supplier.
EDP will, meanwhile, take the lead in the Abono project, one of the two in Spain, which aims to create a hydrogen valley in the northwest region of Asturias. In turn, Repsol will head the second project, located in the Basque Country, which envisages the installation of a large-scale electrolyser as part of the "Basque Hydrogen Corridor" initiative.
Prior to this partnership, EDP and Repsol worked together on the 25-MW WindFloat Atlantic floating wind park off the coast of Portugal.
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