The investment is yet to be defined, but the company expects to create around 1,100 direct, indirect and induced jobs
The multinational Repsol has obtained funding from the European Commission to build a renewable hydrogen production plant at its Valle de Escombreras complex. The investment that it will make in the coming years is yet to be defined, since it is part of the mobilization by the European Commission of 5,200 million euros, for similar projects by some thirty firms.
The Cartagena plant will have a production capacity of 100 megawatts and, according to Repsol sources, the objective is to promote the decarbonization of the industries located in the Valle de Escombreras. According to their studies, thanks to this project the emission of more than 167,000 annual tons of CO2 into the atmosphere will be avoided and some 1,100 direct, indirect and induced jobs could be generated.
With these funds, the Spanish energy company also plans to build a similar plant in Bilbao. It will also have a capacity to produce 100 megawatts and will serve, according to the same sources, for the decarbonization of different sectors, such as mobility, industry and agriculture.
All these projects have received the qualification of Project of Common European Interest. The two that Repsol will develop are an important part of the renewable hydrogen strategy carried out by the firm. “This recognition from the European Commission comes to endorse the leading role of our company, where it is currently the leading producer and consumer of hydrogen,” company sources indicated.
They also explained that both projects will help achieve the objective, already announced by Repsol, of reaching 552 megawatts of installed capacity in 2025. It is almost 50% of what the Spanish Government has committed to and a figure in line with the European decarbonisation strategy. , to reduce dependence on fossil fuels.
#Repsol #obtains #European #funds #hydrogen #plant #Escombreras