BP and Iberdrola in green hydrogen alliance

Companies plan to form joint venture to develop projects across Spain, Portugal and the UK

BP and Spanish energy company Iberdrola say they intend to form a joint venture (JV) to develop up to 600,000t/yr of green hydrogen production, coupled with newly installed renewable power capacity, at various hubs across Spain, Portugal and the UK. The JV, which is expected to be finalised by the end of this year, would also include production of derivatives such as green ammonia and methanol, potentially for export into northern Europe. The two companies would also potentially look to develop green hydrogen production in other regions. The alliance would combine Iberdrola’s track record in renewables development and its global customer base with BP’s experience in gas processing, knowledge