Iberdrola takes another step towards decarbonisation. Iberdrola and H2 Green Steel have signed an agreement to build a green hydrogen plant with an installed capacity of 1,000 MW and an estimated investment of 2.3 billion euros. The new plant will power with clean fuel a direct steel reduction furnace with a capacity to produce around 2 million tonnes per year of pure green steel, with a 95% reduction in CO2 emissions. The site will be located on the Iberian Peninsula, where several possible locations are currently being considered, with the intention of production starting in 2025 or 2026. All locations that H2 Green Steel and Iberdrola are evaluating will have access to renewable energy, as well as all the infrastructure necessary to operate a successful hydrogen, green steel business.
NS Energy 3rd Dec 2021 read more »