Hydnum Steel Receives €150 Million to Build Green Steel Plant on Iberian Peninsula
08/05/2026 - Hydnum Steel announced it has received a €150 million investment from the Co-investment Fund (FOCO) by COFIDES to build the Iberian Peninsula’s first green steel industrial complex in Puertollano, Spain.
The company said the facility will be digitally integrated, using an electric arc furnace powered by green hydrogen and 100% renewable energy. This will reduce scope 1 and 2 CO2 emissions by up to 98% compared to a blast furnace. It will feature endless strip production (Arvedi ESP), continuous rolling technology and a water treatment system.
“Through FOCO, we support projects that help transform strategic sectors for the economy. Hydnum Steel is a clear example of this, combining industrial innovation, sustainable production, and the development of productive capabilities. Its launch will contribute to accelerating the decarbonization of European industry and progressing towards a more sustainable economy,” said Ángela Pérez, chairwoman and chief executive officer of COFIDES.
The overall investment for the facility will be over €1.5 billion. COFIDES and PERTE II for Industrial Decarbonization are backing the project along with a group of other industrial and financial partners. Russula is promoting the project, the company said.
The company said it plans to commence earthworks and construction at the end of 2026.
“Through FOCO, we support projects that help transform strategic sectors for the economy. Hydnum Steel is a clear example of this, combining industrial innovation, sustainable production, and the development of productive capabilities. Its launch will contribute to accelerating the decarbonization of European industry and progressing towards a more sustainable economy,” said Ángela Pérez, chairwoman and chief executive officer of COFIDES.
The overall investment for the facility will be over €1.5 billion. COFIDES and PERTE II for Industrial Decarbonization are backing the project along with a group of other industrial and financial partners. Russula is promoting the project, the company said.
The company said it plans to commence earthworks and construction at the end of 2026.
