The development will be situated on the Iberian Peninsula and is set to come online in 2025 or 2026.
At 1 GW, the scale of the project is significant: according to the International Energy Agency, global installed electrolyzer capacity stood at just 0.3 GW in 2020.
The electrolyzer itself will be co-owned and operated by the two companies. Iberdrola will provide renewable energy to the site, with H2 Green Steel owning and operating DRI production, including any processes connected to downstream steel production.
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