Repsol and Navantia have entered into a partnership to work together to explore business opportunities to produce renewable hydrogen in Spain.
The two companies have already signed a collaboration agreement for the same.
The duo has agreed to work jointly for the industrial development of renewable hydrogen.
It has been informed that as part of collaboration, Navantia’s Seaenergies unit plans to start up an electrolyser production line, while Repsol will promote the installation of Navantia Seaenergies’ equipment for the production of renewable hydrogen.
To be noted, Repsol has a goal to achieve 1.9GW of installed capacity by 2030.
As per the companies, they wish to see "Spain as an international leader in the production of renewable hydrogen, while also contributing to reindustrialisation, quality employment and economic development in the country."
Juan Abascal, Executive Director of Industrial Transformation and Circular Economy of Repsol, commented, "At Repsol we are convinced that initiatives like this are essential to accelerate the deployment of the hydrogen economy in Spain and Europe from a leadership position."
Meanwhile, Herrador from Navantia, remarked, "Navantia Seanergies is committed to a model of collaboration and partnership with leading companies in both offshore wind and hydrogen, an energy vector that offers enormous possibilities for decarbonising the economy and committing to sustainable growth.
The duo believes that renewable hydrogen is a new business opportunity with great potential for Spain.