Steel News

H2 Green Steel and Iberdrola to Build €2.3 Billion Green Hydrogen Plant in Spain

12/2/2021 - Swedish steel startup H2 Green Steel has inked a deal with Spanish energy company Iberdrola to build a 1 GW green hydrogen plant in the Iberian Peninsula.

According to an official press release, the green hydrogen produced at the joint-venture plant will fuel a 2-million-metric-ton direct reduced iron (DRI) facility. Iberdrola will provide the renewable energy for the hydrogen plant while H2 Green Steel will operate the DRI production. The two companies will also consider options for future investment in a 2.5- to 5-million-metric-ton green steel production facility to be built near the hydrogen plant.
“We are proud and thrilled to partner with Iberdrola to enable the increased production of green hydrogen and green iron,” said H2 Green Steel chief executive Henrik Henriksson. “Large-scale green hydrogen production will be key to enable the transition of heavy industry toward sustainable operations.”