Nordex has entered into a partnership with Acciona to develop green hydrogen projects. The duo has already formed a JV for the same.
It has been reported that Acciona bought a 50% stake in this new venture for €68 million to fund the expansion of the business.
According to the company, green hydrogen projects will be developed in locations which have abundant onshore wind resources and at a competitive cost.
Nordex Group has already developed a pipeline of green hydrogen projects throughout the United States and Latin America.
The duo has set a goal of achieving a renewable energy development pipeline of 50GW. They aim to develop projects that will produce 0.5 million tonnes of green hydrogen annually within the next ten years, the company statement reads.
They informed that the first projects would be ready-to-build by 2027.
“We are very happy to now accelerate these achievements together with Acciona, a strong partner with extensive expertise in large infrastructure projects,” José Luis Blanco, chief executive of the Nordex Group, was quoted in a statement.
Besides, Nordex has also formed a JV with Sodena to develop electrolyzers for green hydrogen production.