Iberdrola and BP team up for European green hydrogen production

European energy giants Iberdrola and BP have agreed to work together on building large-scale green hydrogen production hubs and expanding fast-charging public electric vehicle (EV) infrastructure.

The two companies aim to produce green hydrogen hubs in Spain, Portugal and the UK.

They plan to use renewable energy such as wind and solar PV to produce hydrogen, and also derivatives such as ammonia and methanol.

BP and Iberdrola aim to produce 600,000 tonnes of green hydrogen per year and are eyeing exports into northern Europe.

The energy giants also plan to jointly invest up to €1 billion into deploying up to 11,000 fast-charging EV points across Spain and Portugal by 2030.

BP and Iberdrola aim to finalise both joint venture agreements by the end of the year.

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