Within the framework of a Memorandum of Understanding, HydrogenPro will assist the Spanish multi-energy provider Repsol to mature and accelerate projects which will help Repsol achieve its’ target of becoming a zero emissions company by 2050. HydrogenPro will contribute technology and know how to build and deliver efficient high pressure alkaline electrolysers to produce green hydrogen which will contribute to the decarbonization of Repsol and to reaching its’ zero emission target.
Based on an initial review of project opportunities, the parties have identified a possible project at the Bilbao based refinery Petroloes del Norte SA- a subsidiary of Repsol, and have entered into a Letter of Intent (LOI) to jointly develop this opportunity. As a first phase, the parties will cooperate closely in order to prepare and present an application for European Green Deal funding later this month. A key component of the project is to implement the latest electrolyser technology with improved efficiency to design an optimized 100MW plant. Any future project depends i.e on allocation of Green Deal funding, and at present, there are no assurances that such funding will be granted nor that Repsol will make a final decision to invest in an electrolyser plant in the future.
Ariema will act as facilitator and assist and support HydrogenPro during the project phase and assuming the project is approved, will support and assist HydrogenPro in establishing a supply chain for electrolyser projects in Spain.
Mårten Lunde, CEO of HydrogenPro explains that “we are honoured of being given the opportunity to team up with Repsol in maturing green hydrogen projects and thus the ability of contributing to Repsol achieving its’ net zero emission target by 2050 as the first company in this sector to set such an ambitious target.”
