Renewco launches joint venture to develop green hydrogen projects across Spain

Indhyco will develop green hydrogen projects with a focus on industrial consumption through efficient hydrogen production close to the source of consumption and enabled by renewable energy generation.

This new joint venture will combine Renewco’s expertise in developing renewable energy projects in Europe and the US with INDHO’s unique expertise and extensive experience in the green hydrogen sector in Spain. Indhyco aims to develop 1 GW of green hydrogen projects to ready-to-build (RTB) within five years.

Renewco is a renewable energy platform developing photovoltaics, onshore wind, battery storage and green hydrogen projects in Europe and the US. Since its launch in 2021, Renewco has rapidly built a 5GW pipeline across 50 solar, wind, BESS and green hydrogen projects in the UK, Spain, Italy and the US. Many of these projects are moving to the RTB construction readiness stage within the next 3 years.

INDHO was one of the first companies to launch renewable hydrogen projects in Spain and Chile in 2016. They have since developed two green hydrogen projects in Spain, both of which have now reached the RTB stage.

“This new platform will strengthen Renewco’s position and diversify our existing green hydrogen development strategy in Spain, one of the key regions in this fast-growing sector,” said Pedro Perejon, director of business development for Renewco in Spain. “Moreover, the opportunity to work with our partners Fernando and Ricardo, two pioneering leaders of the green hydrogen sector in Spain with over 25 years of experience, will enable the new platform to be implemented quickly and provide us with deep-rooted knowledge of the green hydrogen ecosystem in Spain.”

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Renewable energy

INDHO