Europe
Leading the development of green hydrogen and biomethane projects
Enagás Renovable has a portfolio of more than 20 projects specifically related to renewable gases and decarbonization in Spain, representing one of the largest European platforms in this field.
Enagas Renovable
Type of investment
Country: Spain
Fund: Hy24, Clean H2 Infra Fund. 30% stake in Enagás Renovable
Date: February 2022
Sector: Greenfield / Upstream – Green hydrogen production
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Enagás Renovable already has several pioneering projects in the field of renewable gases that are in line with the Hydrogen and Biogas Roadmaps for Spain and the European Union’s decarbonization objectives. They include the development of Spain’s first industrial green hydrogen plant in Lloseta (Majorca) and the start-up of the “UNUE” biomethane production plant in Burgos, which is the first large-scale biomethane project to be carried out in Spain as part of a private initiative.
In July 2022, Hy24 signed an agreement with Enagás, the Spanish energy infrastructure company, to become a shareholder in Enagás Renovable (30%) to accelerate the development of its leading renewable-to-gas platform. Spain combines competitive renewable resources with attractive market opportunities for hydrogen, including diverse industrial applications.
Deploying the first hydrogen hub of the southwest Europe
Enagas Renovable has a portfolio of more than 20 projects including the Green Hysland European hydrogen project that aims to deploy a renewable hydrogen ecosystem covering its entire value chain in Mallorca (Spain), turning the island into the first hydrogen hub in southwest Europe.
The project is coordinated by Enagás Renovable in a consortium made up of more than 30 partners from 11 different countries (9 of them from the European Union, Chile, and Morocco), from industry, science, and the public sector. The Green Hysland project includes the renewable hydrogen production plant Power to Green Hydrogen Mallorca, promoted by Enagás Renovable and Acciona Energía in collaboration with Cemex and the Institute for Energy Diversification and Saving (IDAE), as part of a plan to reindustrialise Cemex’s land in Lloseta (Mallorca).
Developing a leading renewable-to-gas platform
“Hy24's entry into the shareholding of Enagás Renovable helps to catalyse the implementation of large-scale green hydrogen projects to decarbonise the industrial and transport sectors in Spain. The closing of this transaction, one of the first investments made by the Clean H2 Infra Fund, underlines the relevance of Enagás Renovable in the renewable gas landscape in Europe to contribute to a just energy transition and to decarbonize future energy".
Key figures
+20
green hydrogen and biomethane projects
30%
stake for Hy24, as a shareholder of Enagas Renovable
+700MW
of electrolysis capacity, which is equivalent to around 20% of the current Spanish hydrogen objectives in terms of installed capacity by 2030 (4GW).