BP is investing in green hydrogen production
BP plans €2bn green hydrogen cluster at Castellon
Oil major unveils Hyval project to deploy up to 2GW of electrolysers at Spanish refinery complex for decarbonisation and biofuels production
BP has set out plans to develop a green hydrogen cluster with up to 2GW of electrolyser capacity at its Castellon refinery in Spain’s Valencia region by 2030. The project, called Hyval, will also include the development of biofuels production capacity and renewable power. BP says it could invest up to €2bn into Castellon by 2030. Green hydrogen generated by BP’s Castellon project will be used to replace grey hydrogen consumed by the refinery and as a feedstock for sustainable aviation fuel production. Biofuels production at Castellon is expected to increase threefold, to 650,000t/yr, by 2030. “We see Hyval as key to Castellon’s transformation and critical to supporting decarbonisation
Also in this section
17 January 2025
Bank’s UK arm signs first deal to finance a green hydrogen developer, but cost and offtake pressures mean the sector remains too risky for many lenders
15 January 2025
The country’s technology-neutral position and competitive business environment mean it is looking to be surfing the second wave of the energy transition while others are still grappling with the first
14 January 2025
With abundant wind and sunshine, Africa is poised to lead in green hydrogen production. Yet high costs and financing challenges require global partnerships to unlock the continent's potential
14 January 2025
The continent’s largest economy sees an opportunity to join the global export market, but funding gap and lack of regulatory framework present challenges
