News – US – Plug Power, Acciona to pour billions into new Iberian green hydrogen joint venture

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16 February (Renewables Now) – The Spanish renewable energy company Acciona SA (BME: ANA) and the US developer of fuel cell systems Plug Power Inc (NASDAQ: PLUG) have signed a memorandum of understanding (MoU) with the aim of reaching a 50th anniversary -50 to set up a joint venture (JV) focusing on green hydrogen in Spain

The partners have set themselves the goal of achieving a market share of 20% in Spain and Portugal by 2030 This plan requires an initial investment of over 2 billion EUR (2 USD) 42 billion), the companies said in a joint statement

The Madrid-based joint venture is to become an Iberian platform that will develop, operate and maintain projects for green hydrogen and initially serve customers from the industrial and mobility sectors across the peninsula

The joint venture will have Plug Power as the preferred supplier of electrolysers, with Acciona being the preferred supplier of clean electricity, Acciona will also provide its proprietary GreenH2Chain blockchain platform to ensure that the hydrogen contains guarantees of renewable origin / p>
The parties expect to officially launch the new company by the end of the first half of 2021. The first projects of the joint venture are already in development, the companies added

Saras, Enel Green Power Partnership for green hydrogen in Sardinia

Southern Company leads the US hydrogen R&D initiative

European alliance aims at EUR 15 / kg for green H2 before 2030

Everfuel participates in the Danish Green Fuel Hub project

Ballard, Chart Industries, develops hydrogen solutions on board for heavy haulage

Naturgy planning network of H2 filling stations in Spain by 2025

With extensive experience as a Spain-focused business news reporter, Sladjana is now delving deeper into the global renewable energy industry she is the person to look for if you need information on Latin American renewable energy and the Spanish market

Renewables Now is an independent, one-stop shop for business news and market intelligence for the global renewable energy industry

Plug Power, Acciona, Joint Venture, NASDAQ: PLUG, Hydrogen, Renewable Energy

News – USA – Plug Power, Acciona to raise billions in new Iberian green hydrogen joint venture to pour

Source: https://renewablesnow.com/news/plug-power-acciona-to-pour-billions-into-new-iberian-green-hydrogen-jv-731508/