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Plug and ACCIONA Energía Present in Spain Their ‘Valle H2V Navarra’ Project to the Government of Navarra
LOCAL IMPACTThe project, currently in the development stage, foresees a total investment of €87 million as well as the creation of over 500 jobs 3,880
About this update from Plug Power, Inc.
[{"type":"text","content":"LOCAL IMPACTThe project, currently in the development stage, foresees a total investment of €87 million as well as the creation of over 500 jobs 3,880 TONS/YEARThe aim is to use 90% of the production of green hydrogen for consumption by the main industrial sectors of the region LATHAM, N.Y. and PAMPLONA, Spain, Feb. 21, 2023 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ: PLUG) and ACCIONA Energía have presented to the Government of Navarra (Spain) their Valle H2V Navarra joint project to build an industrial-scale, green hydrogen production plant in Rocaforte, Sangüesa. The project, currently in the development stage, involves the construction of a 25MW electrolyzer on the land plots adjacent to the Sangüesa biomass plant. The electrolyzer will be powered by hybrid renewable energy produced at a photovoltaic plant (25MW) and a wind farm (24MW), both newly built facilities that are currently under development. The plans of Plug and ACCIONA Energía entail a total associated investment of €87 million, and the creation of over 500 direct, indirect, and induced jobs during the construction of the plant. Once built, the plant will reach a total production of 3,880 tons of green hydrogen per year. The aim is to use 90% of the green hydrogen production for consumption by the main energy-intensive industries in the area, such as paper, glass, steel, food and automotive, contributing to their decarbonization and the reduction of their CO2 emissions, including Plug’s customers in material handling, stationary power, and on-road mobility applications. The remaining 10% will be used for the transport sector through the installation of a hydrogen station at the same location. The project envisages the possibility to expand the hydrogen plant in the future, depending on the evolution of demand, to double the initially planned power (50MW) of electrolysis. PROJECT OF INTEREST FOR THE REGION Several representatives from the Navarra Government attended the presentation, including the President, María Victoria Chivite, the Regional Minister of Economic and Business Development Mikel Irujo, and the General Director of Industry, Uxue Itoiz. In addition, the Mayor of Sangüesa Lucía Echegoyen, and the President of the Rocaforte Council María Eugenia Pérez, participated too. Representing the project was the Chairman of ACCIONAPLUG and CEO of ACCIONA Energ...