Naturgy utilities company and Enagas energy company and European TSO have joined up to construct a plant to produce clean hydrogen (with a capacity of 9,000 tons each year). The fuel will contribute to carbon-free environment. The Spanish companies aim to use the initiative to cut down high expenses to generate the fuel from renewable resources.
In their statement, they stated that they have planned to establish a solar plant for operating electrolysis to break up water into oxygen and hydrogen.
With a capacity of 400 megawatts and up to 60 megawatts electrolyzer, the solar factory is looking for financial support from EU’s rescue package ($917.55 billion).
The statement didn’t say anything about the project's timing and the portion of investment.