Spanish oil refiner Cepsa has locked in a partner that will build up to 5 GW of wind and solar farms in Spain to help power its green hydrogen production plants and charging stations for electric vehicles.
The company said on Thursday it had signed an agreement with Spanish independent renewables firm Grupo Ibereolica Renovables to secure long-term access to renewable energy it needs to support its green hydrogen and sustainable mobility plans.
Ibereolica is contributing to the deal nine wind, four solar photovoltaic and two hybrid wind-solar projects. The projects, which are located in the Spanish regions of Castile and Leon and Extremadura, are currently in advanced stages of planning.
The agreement will ensure the viability of the projects since they will benefit from the long-term sale of electricity, Cepsa said.
The larger share of wind power in Ibereolica’s portfolio is also an asset to Cepsa’s green hydrogen projects, as the wind production curve is complemented by the solar farms that the refiner is developing in Spain, the company further said.
“With these projects, Cepsa seeks to sustainably cover the energy consumption of its industrial centers, especially to produce green hydrogen and supply the ultra-fast recharging points it is installing in its network of service stations for electric vehicles”, the press release reads.
Grupo Ibereolica Renovables is the latest in the string of partners to join Cepsa while it works to realise the goals under its 2030 Positive Motion strategy, which include setting up a green hydrogen valley in Andalusia, doing away with traditional refineries in favour of diversified energy parks, biofuels production and renewable energy installations.