The Iberdrola Tower in Bilbao, Spain.
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Spanish power company Iberdrola and Sweden’s H2 Green Steel are to partner and develop a major facility that will produce green hydrogen, in yet another example of how companies are taking an interest in the much talked about sector.
In an announcement on Thursday, the firms said the 2.3 billion euro ($2.6 billion) project would see them set up a green hydrogen facility with an electrolysis capacity of 1 gigawatt. Financing will come from a mixture of equity, green project financing and public funding.
Hydrogen, which has a diverse range of applications and can be deployed in a wide range of industries, can be…