UK-based energy giant bp has launched the green hydrogen cluster of the Valencia region (HyVal) as its Castellon refinery in Spain.
Having announced the launch of the new cluster on Feb 28th, the company revealed that it aims for the initiative to be based around the phased development of up to 2GW (gigawatts) of electrolysis capacity by 2030 for producing green hydrogen at its refinery.
With HyVal expected to play a key role in the decarbonisation of bp’s Castellon refinery, bp has earmarked up to €2bn in the project by 2030.
The investment will not only see the refinery switching from carbon intensive grey hydrogen to clean, green hydrogen, but it will also aim to increase its production of biofuels by three-fold, to 650,000 tonnes a year.
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