Envision Energy has announced a ‘landmark’ $1bn investment in Spain’s renewable energy sector featuring the first integrated green hydrogen Net Zero industrial park in Europe.
The ambitious project, targeting up to 1,000 jobs, will be developed in partnership with the Spanish government and ‘key Spanish and European industry and financial leaders’ with construction set to start in the first half of 2026.
It will comprise design, research, manufacture and service functions for green hydrogen including electrolysis – using high-capacity PEM electrolysers and low/high pressure alkaline electrolysers – an air separation unit (ASU), ammonia synthesis and completed module facility for scalable green ammonia production.
Ratified as part of a Memorandum of Understanding (MOU) signed during the recent Spanish Prime Minister’s visit to China, the Net Zero industrial park will deliver 5 gigawatts (GW) of electrolysis capacity and significantly accelerate Spain’s green hydrogen adoption plans as it aims to cut Greenhouse Gas emissions (GHGs) by 23% by 2030. Envision will also establish a Green Hydrogen Centre of Excellence.
The Bureau Veritas-certified park aims to deliver five gigawatts (GW) of electrolysis capacity, which significantly contributes to Spain’s Hydrogen Roadmap targets of producing 11 GW by 2030.
Lei Zhang, Founder and Chairman of Envision Energy, said, “With its ideal resources, market scale and expertise, Spain is well-placed to be the European leader in green hydrogen and Envision, together with our Net Zero tech partners, is excited to play a role in securing Spain’s green energy future.”
In July, the European Commission approved a €1.2 billion state aid scheme to support the production of renewable hydrogen in Spain.
The scheme, approved under the State aid Temporary Crisis and Transition Framework (TCTF) will support investments in the production of hydrogen with an installed capacity of at least 100 MW.
Investments supported may encompass the production of renewable hydrogen-derived fuels, renewable hydrogen storage, and production of renewable electricity.
To be eligible, applicants should have secured agreements with offtakers to cover at least 60% of the hydrogen or renewable hydrogen-derived fuel to be produced.
