Envision Energy to build US$1 billion green hydrogen industrial park in Spain
Project partners will include the Spanish government and local industrial and financial bodies, the Shanghai-based firm said.
Chinese renewable energy developer Envision Energy is planning to build a US$1 billion green hydrogen industrial park in Spain to help the European country’s clean energy transition, while furthering China’s ambition to dominate the industry.
The firm, which is the world’s second largest wind-turbine supplier, will partner with the Spanish government and local industrial and financial bodies to build a facility to produce electrolysers, according to a statement. Electrolysers are used to produce green hydrogen, which in turn, can power vehicles and generate electricity.
Once completed, the industrial park will deliver 5 gigawatts (GW) of electrolysis capacity, nearly half of Spain’s national target of 11GW by 2030, Envision said. The investment could create 1,000 new jobs, it added.
“With its ideal resources, market scale and expertise, Spain is well-placed to be the European leader in green hydrogen,” Zhang Lei, founder and chairman of Envision Energy, said in the statement. Together with its tech partners, “Envision is excited to play a role in securing Spain’s green energy future”.
The plan proceeded from an agreement signed during Prime Minister Pedro Sanchez’s visit to China earlier this week, the Shanghai-based company said.
