Spain's newborn consortium SHYNE to invest EUR 3.23bn in green H2

Spain’s multi-energy group Repsol SA (BME:REP) on Wednesday launched the Spanish Hydrogen Network (SHYNE), a green hydrogen consortium that brought together 22 companies and 11 associations, universities and technology centres under the goal to decarbonise all areas of the national economy.

Repsol said that it is leading the initiative alongside bus fleet operator Alsa, vehicles maker Scania, auto-parts maker Bosch GmbH, steel group Celsa, high-speed train manufacturer Talgo SA (BME:TLGO) and Spanish gas grid operator Enagas SA (BME:ENG). It said the SHYNE group would launch projects in ten regions of Spain and invest EUR 3.23 billion (USD 3.66bn) to develop the value chain -- from the production and distribution of green hydrogen to promoting its uses in transport and industrial applications.

The consortium will aim to reach an installed electrolysis capacity of 500 MW in 2025 and 2 GW in 2030. Its projects will focus on creating ecosystems that connect large regional hydrogen initiatives already underway, such as the developing clusters in the Basque Country, Catalonia and Murcia. SHYNE will seek to expand on this effort by creating new innovation hubs in the regions of Castile-La Mancha and Madrid, Repsol said.

(EUR 1.0 = USD 1.135)

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