EDP, Cepsa team up to boost green hydrogen production
Jan 30 (Reuters) - Portuguese electricity company EDP (EDP.LS) and Spanish oil firm Cepsa (CPF.GQ) will work together on large-scale green hydrogen production in the Bay of Algeciras in southern Spain, they said in a joint statement on Monday.
The project is part of Cepsa's plans to invest 3 billion euros ($3.3 billion) in green hydrogen developments in the regions of Huelva and Algeciras, in one of the largest green hydrogen projects in Europe.
EDP will provide Cepsa with electricity needed to produce green hydrogen, they said.
Last week, Cepsa announced that the renewables business of gas grid operator Enagas (ENAG.MC) and green energy company Alter Enersun would participate in the so-called Andalusian Green Hydrogen Valley.
Spain aims to become a major player in renewable energy, especially in green hydrogen, which is seen as a solution to decarbonising heavy transport including commercial shipping and air travel.
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