UK-based Renewco Power and Spanish developer INDHO have joined forces to establish a new development platform focused exclusively on green hydrogen projects in Spain, aiming to leverage renewable energy for industrial applications.
Named Indhyco, the platform led by INDHO will prioritize the efficient production of green hydrogen near consumption centers, facilitated by renewable power generation. Their ambitious goal is to advance 1 gigawatt (GW) of green hydrogen projects to the ready-to-build stage within the next five years.
Renewco Power, known for its activities in solar, onshore wind, battery storage, and green hydrogen projects across Europe and the US since its inception in 2021, has rapidly amassed a 5GW pipeline. This includes 50 projects spanning solar, wind, battery energy storage systems (BESS), and green hydrogen across the UK, Spain, Italy, and the US, with many projects set to advance to construction readiness in the coming three years.
Pedro Perejon, Renewco's business development director in Spain, highlighted the strategic importance of the new platform: “This new platform will strengthen Renewco's position and diversify our existing green hydrogen development strategy in Spain, one of the key regions in what is a fast-growing sector.”
Fernando Roman, director at INDHO, emphasized the platform's role in Spain's energy transition: “Indhyco projects contribute to the energy transition in our country by utilizing renewable energy capacities with existing electricity and natural gas infrastructures, enabling access to both industrial and domestic sectors.”
Ricardo Izquierdo, also a director at INDHO, underscored their readiness to support national and EU objectives: “Indhyco is equipped with all the necessary capabilities and is poised at a crucial moment to significantly contribute to achieving the ambitious goals and objectives set by the governments of Spain and the European Union for the development of green hydrogen production plants.”
