Saipem to acquire stake in Alboran Hydrogen’s project in Italy

Italian company Saipem has decided to acquire a stake in green energy developer Alboran Hydrogen’s project.

The engineering provider will take a majority stake in the project. For this, it has entered a partnership with compatriot energy group Edison.

The project is located in the south of the country.

According to a report, “Saipem and Edison will take ownership, via a special purpose vehicle, of 50% and 10% respectively of Alboran Hydrogen Brindisi, which is developing the Puglia Green Hydrogen Valley project.”

It has been reported that this initiative plans to “set up infrastructure for large-scale production and transport of green hydrogen in Italy.”

It will have three production facilities in the cities of Brindisi, Taranto and Cerignola, it said.

The companies informed that the plants would have a “combined electrolysis capacity of 220 megawatts, that will be powered by 400 MW of solar energy.”

The generated green hydrogen is planned to be used to power local industry and transport. It will support the country to boost energy mix towards a sustainable model.

Giovanni Brianza, chief executive of Edison Next, Edison’s renewables arm, remarked, “The company aims to use green hydrogen to replace fossil fuels in energy-intensive industrial processes and to make heavy transport sustainable.”