Iberdrola to invest €3bn in green hydrogen

Favourable regulation must be deployed to help achieve EU decarbonisation goals, Spanish company’s chairman says

Spanish utility Iberdrola will invest €3bn ($3.2bn) in green hydrogen before 2030, company chairman Ignacio Galan said at the World Economic Forum in Davos. Galan is one of a number of CEOs to have signed a manifesto at the summit agreeing to meet the EU goal of reducing emissions by 55pc below 1990 levels by 2030. He noted that coordinated EU action—such as that seen in the RepowerEU proposals—was essential to achieving the bloc’s target to increase hydrogen use to 20mn t/yr. “We have to move in a hurry. We have the technology, the support of society and, as companies, we are ready to play our role, investing and committing all our human and technological resources, but we need clarity, the