Madrid — Spain is planning on investing billions of euros to become a green hydrogen powerhouse by 2030.
Green hydrogen is the production of hydrogen through electrolysis using renewable energy.
The managing chief executive of Spanish gas grid operator Enagás, Arturo Gonzalo Aizpiri, told a hydrogen conference on Thursday that investments of €3.5 billion ($3.7 billion) and almost €1.2 billion were planned for the construction of domestic pipelines and to build two storage facilities.
These projects are all to be put out to tender in the coming months, he told the attendees in Madrid.
Spain is also building the H2MED undersea gas pipeline for the supply of hydrogen from Barcelona to Marseille at a cost of around €2.5 billion, in a project that also includes Portugal.
"Spain has companies, talent and industry, it has everything needed to become the benchmark for renewable hydrogen worldwide," Spanish Secretary of State for Energy Sara Aagesen said.
Spain benefits form good climatic and geographical conditions for renewable energy sources, with plenty of sun and wind. Furthermore, large tracts of the country are undeveloped, allowing for the construction of wind turbines and solar plants.
Minister for Ecological Transition Teresa Ribera also emphasised that Spain is "particularly well positioned" as it is home to 20% of green hydrogen projects planned worldwide, second only to the US.
Meanwhile Russia's war on Ukraine only serves to make green hydrogen a more attractive source of energy.
Enagás estimates that Spain will have a production potential of up to three million tonnes of renewable hydrogen annually in 2030, of which 1.3 million tons would be consumed domestically and the rest exported to other European countries via H2MED.
That would make up some 10% of the total demand in Europe. By 2040, Spain wants to produce up to 4 million tons of renewable hydrogen annually.
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