Iberdrola and the Port of Rotterdam will work towards setting up a supply chain to ship/import green hydrogen and its derivatives to meet the expected demand in the Netherlands and Northwest Europe. In addition, both parties will explore the potential for local production by Iberdrola of green hydrogen at the Port.

Iberdrola is one of the world’s largest electricity utilities in terms of both stock market capitalisation and renewable energy portfolio. With ca. 40 GW of renewable capacity installed worldwide, its current portfolio includes onshore wind power, solar PV and batteries, hydropower and offshore wind. The latter is becoming a key growth vector for the Company, with three offshore windfarms in operation in the UK and Germany (1,258 MW) and another 5,500 MW under construction or secured with long-term contracts, which will come into operation before 2027. Thanks to investments of around €30 billion worldwide during this decade, Iberdrola is well positioned to capture new opportunities in the upcoming rounds of auctions in key countries in Europe, the US and the APAC region.

To support the decarbonisation of hard-to-abate sectors where electrification is not enough, Iberdrola is fully committed to developing the green hydrogen market. With two real projects built in 2022 in Spain (a 2.5 MW hydrogen refuelling station for buses in Barcelona and a 20 MW green hydrogen plant in Puertollano for the industry of fertilisers – Europe’s largest industrial electrolyser at the moment), the Company pioneers this technology and aims to globally install 3,000 MW of electrolysers by 2030 with a production of 350,000 tons of green hydrogen.

In this sense, the Company has identified the Netherlands as a key market to develop the green hydrogen economy since it is Europe’s second-largest hydrogen consumer after Germany. Likewise, the Port of Rotterdam is poised to become Europe’s hydrogen hub and is working on setting up the infrastructure and services for facilitating hydrogen flows. Together with exporting countries, it wants to supply North Western Europe up to 4.6 million tonnes annually by 2030.

The Memorandum of Understanding signed between Iberdrola and the Port of Rotterdam includes the potential establishment of a supply chain to ship hydrogen and other derivatives produced by Iberdrola in different geographies to the Port of Rotterdam for its distribution to off-takers in the Netherlands and other countries in Northern-West Europe (namely, Belgium and Germany), as well as connecting with port service providers. Given the role of Rotterdam as a main port for the distribution and production of new fuels and feedstocks, Iberdrola is interested in also developing an electrolyser in the Rotterdam Industrial Cluster for additional local production of green hydrogen.

To continue its mission, the Company has recently launched a record investment plan of €47 billion for 2023-2025 aimed at improving its electricity networks and growing its renewable energy portfolio to deliver 52 GW installed by 2025 while achieving 80 GW by 2030. These new renewable assets will be the key leverage to Iberdrola’s global ambition for green hydrogen and its derivates’ development.  

Source: https://www.iberdrola.com/
Image source: Courtesy of Iberdrola

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