Fotowatio Renewable Ventures plans to invest close to €2,000 million for this project

 

The company Fotowatio Renewable Ventures FRV, owned by the Arab fund Abdul Latif Jameel, has once again put the spotlight on Extremadura for the construction of one of the largest green hydrogen projects in the world.

This project will focus on the self-generation of renewable energy to produce hydrogen and will have a capacity of more than 1 GW. The objective of associating the hydrogen generation plant with photovoltaic installations, with 1.5 to 2 GW of power, will have an investment of close to €2,000 million and is expected to be operational by 2028-2029.

The project, still in its initial stage, is awaiting obtaining the necessary permits and environmental impact assessment, which is a fast process in the regional administration. FRV already has experience in Extremadura in the installation of photovoltaic plants and has obtained €11 million in state aid for a 20 MW hydrogen plant. This is one of the 19 pioneering green hydrogen projects that will be carried out in Spain with public subsidies. It will be located in the municipality of Mérida, at the junction of the 'Carmonita' electrical substation.

The hydrogen produced in this project will be used for transport, heavy industry, heat production and even methanol production. Extremadura is one of the main players for Spain and the European Union in the process of ecological transition and the green revolution, creating a favourable environment for the supply and demand of this gas.

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