Repsol, Navantia to explore green H2 business in Spain

Spanish multi-energy energy group Repsol SA (BME:REP) has signed a collaboration agreement with Navantia Seanergies, the green energy division of Spain’s state-owned shipbuilder Navantia, to pursue business opportunities in the domestic green hydrogen production sector.

The pair pledged to combine knowledge and efforts to promote production of renewable hydrogen for industrial applications, Repsol said.

Navantia Seanergies plans to open an electrolyser production line at its turbine factory in the city of Ferrol, north-western Spain, where it currently manufactures jackets, platforms and other equipment for the offshore wind and floating wind industries. Repsol, on the other hand, committed to spearheading the installation of these electrolysers, expecting to lead the green hydrogen market in the Iberian Peninsula.

Both companies are part of the Spanish Hydrogen Network (SHYNE), a consortium that allied 33 corporate and other entities on projects to develop a green hydrogen value chain in Spain. Through SHYNE, Navantia promotes hydrogen to the naval industry, according to Repsol.

Outside of partnerships with other companies, Repsol is pushing its own green hydrogen strategy, planning to invest EUR 2.55 billion (USD 2.56bn) and reach 1.9 GW of hydrogen production capacity in 2030.

(EUR 1.0 = USD 1.004)

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