Spanish multinational energy company Iberdrola has partnered with Basque company Ingeteam to form a new venture that will see the integration, installation and maintenance of electrolyser plants.
The new company, Iberlyzer, will become Spain’s first integrator of large-scale electrolyser plants.
Iberdrola chief Ignacio Galán said the initiative “will accelerate the production of green hydrogen in Spain and will create a new industry”.
The joint venture will begin operations next year with the aim of integrating more than 200MW of electrolysers by 2023, which would represent over 50% of Spain’s electrolyser capacity target.
The electrolyser would be destined for the second project of the Iberdrola-Fertiberia alliance, which will produce green hydrogen for the Palos de la Frontera plant in Spain.
The Iberlyzer industrial project will require close to €100 million investment and will create 150 direct skilled jobs.
For this project, Iberdrola has selected the European company Nel Hydrogen Electrolyser -a division of Nel ASA- as its preferred supplier for the construction of the hydrogen production system using electrolysis.
Nel is the world’s largest manufacturer of electrolysers with business operations in over 80 countries.
The deal aims to turn Spain into a technological and industrial benchmark in green hydrogen.
Iberdrola chairman Galán said: “We continue to make progress in our ambitious plan to put Spain and Europe at the global forefront of this technology by reducing energy dependence and fossil fuel consumption while driving the country’s economic and social revitalisation.”
Jon André Løkke, CEO of Nel, added: “Just as Iberdrola in the past successfully contributed to developments in the wind industry, they are now doing the same within hydrogen.
“Getting visibility on significant off-take volumes and working together on the value chain through scale-up will contribute massively to the overall cost reductions.”
Adolfo Rebollo, CEO of Ingeteam, said: “With the creation of Iberlyzer, we are at the forefront of developing the green hydrogen industry.”