Renewco Introduces Joint Venture for Advancing Green Hydrogen Across Spain

Renewco Power (Renewco), based in the UK, and INDHO, a leading green hydrogen developer located in Ciudad Real, central Spain, have jointly launched Indhyco today. This innovative development platform is dedicated to advancing green hydrogen projects exclusively within the Spanish market.

Indhyco aims to develop green hydrogen projects focused on industrial consumption, prioritizing efficient hydrogen production near the point of use, facilitated by renewable power generation.

In this new partnership, Renewco’s experience in renewable energy project development across Europe and the US will merge with INDHO’s specialized knowledge and extensive experience in Spain’s green hydrogen sector. Indhyco aims to advance 1 GW of green hydrogen projects to the ready-to-build (RTB) stage within the next five years.

Renewco specializes in developing renewable energy projects such as solar PV, onshore wind, battery storage, and green hydrogen across Europe and the US. Since its inception in 2021, Renewco has swiftly built a 5GW pipeline encompassing 50 projects in solar, wind, BESS, and green hydrogen across the UK, Spain, Italy, and the US. A significant portion of these projects is expected to reach the ready-to-build (RTB) stage within the next three years.

INDHO pioneered the development of renewable hydrogen projects in Spain and Chile back in 2016, becoming an early mover in this sector. Subsequently, they have successfully advanced two green hydrogen projects in Spain to the ready-to-build (RTB) stage.

Pedro Perejon, Renewco’s Business Development Director in Spain, commented, "This new platform will enhance Renewco's presence and broaden our current green hydrogen development strategy in Spain, a pivotal region in a rapidly expanding sector. Additionally, collaborating with our partners Fernando and Ricardo, who are distinguished leaders with over 25 years of experience in Spain's green hydrogen sector, will enable us to launch the new platform effectively and gain profound insights into the country's green hydrogen ecosystem."

Javier Salgado, Renewco’s H2 Manager, stated, "Through this new alliance, we aim to make a significant impact in meeting the pressing industrial decarbonization needs by advancing green hydrogen projects. This energy source will play a crucial role in reducing emissions across the broader energy sector, producing green derivatives that are pivotal in tackling this challenge."

Fernando A. Román, Director at INDHO, commented, "Indhyco projects support our country's energy transition by leveraging renewable energy capabilities alongside existing electricity and natural gas infrastructure, ensuring access for both industrial and residential sectors."

Ricardo Izquierdo, Director at INDHO, stated, "Indhyco possesses the essential capabilities and is strategically positioned to make a substantial contribution towards fulfilling the ambitious goals set by the governments of Spain and the European Union for the establishment of green hydrogen production facilities."