Spain Increases Green Hydrogen Production Target Amid Industry Challenges

Spain has boosted its green hydrogen production target to 12 GW by 2030, signaling confidence in the sector despite some energy companies scaling back plans due to costs and uncertain demand. The revised national energy and climate plan will be approved soon, highlighting the country’s commitment to renewable energy.

Spain has upped its target for green hydrogen production capacity, reflecting growing confidence in a sector where some energy giants are scaling back due to high costs and uncertain demand. The updated government strategy aims for 12 gigawatts (GW) of green hydrogen electrolysers by 2030, according to a Monday-released energy ministry document.

The updated national energy and climate plan, set for approval at a Tuesday cabinet meeting, is a crucial roadmap for potential investors. It sets forth targets for energy efficiency and renewable energy, among other key areas.

Spain aims to become a European leader in green hydrogen by leveraging its abundant sun and wind resources. Recent subsidies for major projects have piqued the interest of big investors, including Chinese companies like Hygreen Energy and Envision Group.

(With inputs from agencies.)