iberdrola

ACWA Power and Iberdrola are among the seven founders of a new coalition that aims to scale up the production of green hydrogen 50-fold in the next six years while halving production costs.

Spanish utility Iberdrola aims to accelerate the production of green hydrogen after signing an agreement with Norwegian company Nel and creating a new venture dedicated to the installation and maintenance of electrolyser plants.

Iberdrola is set to double its renewables capacity by 2025 through a €75 billion (US$88.9 billion) investment package that sees the Spanish utility seek to take advantage of the “global energy revolution” and reach carbon neutrality in ten years.

Iberdrola has cemented its status in the US renewables market by acquiring regulated utilities arm PNM Resources in a deal worth US$8.3 billion.

A round-up of the latest news from Europe’s solar market, as Lightsource BP continues its Spanish charge and Iberdrola launches a grid R&D centre.

Iberdrola has ramped up its commitment to green hydrogen through the formation of a new business unit focused on the technology.

Portugal’s record-breaking solar auction “exceeded expectations”, a top government official has told PV Tech, confirming that Spanish company Enerland was the company with the lowest bid.

Portugal’s second solar auction has closed with record-breaking low prices of €11.14/mWh (US$13.12), the country’s government announced this afternoon.

Europe’s fleet of solar arrays generated 68TWh of power in the first six months of 2020, a 15% increase on last year’s figure as new, larger solar farms came to the fore.

Iberdrola is to develop a landmark solar-storage-hydrogen facility in central Spain, professing it to be largest industrial green hydrogen facility in Europe once complete.