Spanish renewable power company Iberdrola and Britain’s BP said on Thursday they had agreed to build a 25-megawatt green hydrogen plant in Castellon, on Spain’s eastern coast.
The project, which will benefit from a 15-million-euro ($16.5 million) EU subsidy, is designed to help BP reduce the carbon footprint of its oil refinery located in Castellon, the two companies said in a joint statement.
BP and Iberdrola will each finance half of the project, but they did not disclose the cost of building the plant.
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