Iberdrola and bp announced this Thursday an alliance that provides for a joint investment of up to 1,000 million euros in 11,000 recharging points for electric vehicles and the production of green hydrogen in Portugal and Spain.
In a statement, bp and Iberdrola said that “Aim to finalize both joint venture agreements [parceria] until the end of 2022”with the deal still “subject to necessary regulatory clearances.”
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The plan contemplates the installation and initial operation of 5,000 fast and ultra-fast public charging points by 2025 and up to a total of 11,000 points by 2030 in Spain and Portugal “they propose to include their current and future fast charging centers in this joint venture” .
EITHER goal is to “significantly expand access to cargoeither for passenger cars or for fleets of heavy vehicles and vans, thus accelerating electric mobility.”
Iberdrola and bp say they are “We are also looking to develop joint solutions to serve electric vehicle customers in the UK.”.
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Companies also include in their plan “the joint development of large-scale green hydrogen projects in Spain, Portugal and the United Kingdom, open to other geographies”with the aim of reaching a production capacity of up to 600,000 tons per year, integrated with the development of new renewable energy capacity.
The goal is to “form a joint venture for the integrated green hydrogen production on a large scale in Spain, Portugal and the United Kingdom, as well as the production of its derivatives, such as green ammonia and methanol, with potential for export to northern Europe”.
According to them, “this strategic alliance will combine Iberdrola’s world-renowned experience as a leader in the development of renewable energies and its regional customer base, with the bp’s experience in gas processing and trading and its global customer base“.
The green hydrogen project at the bp refinery in Castellón (Spain) will form part of the agreement in which bp and Iberdrola, together with the Instituto Tecnológico da Energia, present the Castellón project to PERTES (Strategic Projects for Economic Recovery and Transformation) . , promoted by the Government of Spain, on the hydrogen supply chain.
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Likewise, they add, industrial projects under development by Iberdrola and bp, as well as new projects, will form part of the agreement”.
Based on this collaboration in Spain, Portugal and the United Kingdom, Iberdrola and bp state that they intend “explore potential future opportunities for green hydrogen production in other geographies”.
According to both companies, the objective of the strategic collaboration agreement now announced is “contribute to the decarbonisation of the industrial and transport sectors”supporting like this “The acceleration of the energy transition in Spain, Portugal and the United Kingdom”.
With this agreement, we intend to help advance decarbonization and energy self-sufficiency through the electrification of two fundamental sectors of our economy, transport and industry”, affirms the president of Iberdrola, quoted in the statement.
According to Ignacio Galán, “the magnitude of this challenge requires alliances between companies such as Iberdrola and bp, which have the technology and expertise to help accelerate Europe’s industrial development and generate, at the same time, well-being and new opportunities for all through clean energy”.
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For his part, the executive president (CEO) of the bp group, Bernard Looney, maintains: “The development of low-carbon energy solutions that our clients seek, requires the integration of different technologies, capacities and forms of energy and we can do it faster and on a larger scale when we work in partnership with other companies.”
We have great respect for Iberdrola, which has been one of the early leaders in the energy transition, and we are very excited about what we can offer together”, he adds.
With a range of comprehensive mobility services to meet the needs of electric vehicle users, Iberdrola claims leadership in public electric recharging infrastructures in Spain and Portugal, with more than 2,500 charging points in operation and others in development, betting on renewable energies to decarbonize the transport sector.
bp assumes the “ambition to rapidly expand its network of electric vehicle charging points globally and continue to invest in fast and ultra-fast charging”currently having a European network with more than 10,000 charging points, mainly in the United Kingdom and Germany.
As part of the joint venture that has just been announced, bp plans to “use part of its extensive network of 1,300 service stations in Spain and Portugal as locations for load centers”.
Source: Observadora
