Moeve has approved the Final Investment Decision (FID) of the first phase of its flagship Andalusian Green Hydrogen Valley, making Southern Europe’s largest green hydrogen project a reality.
CEO Maarten Wetselaar said in a post on LinkedIn: ‘I am proud to announce a defining milestone of our #PositiveMotion strategy, driven by our firm belief in green molecules as a cornerstone of Europe’s energy and industrial future and the potential of Spain as strategic European hub for green molecules production. Many thanks to all the Moeve teams that have made this moment possible.’
Construction of the first phase of the Valley, known as Onuba, will begin in the coming weeks with an initial phase of 300 MW and the option to expand by an additional 100 MW, subject to grid connection and board approval.
Onuba entails a total global investment of more than €1 billion, including associated infrastructure and the development of a self‑consumption photovoltaic plant. The project, led by Moeve with a majority stake (51%), will also include participation from Masdar (Abu Dhabi Future Energy Company) and Enalter (majority owned by Enagás Renovable).
This first phase will have the capacity to produce up to 45,000 tonnes of green hydrogen annually, with the aim to decarbonise heavy transport, aviation, and the maritime sector, as well as the chemical and fertiliser industries.
This hugely significant project ahs been recognised by the European Commission as a Project of Common European Interest and supported by the Government of Spain, receiving €304 million under the Recovery, Transformation and Resilience Plan, financed by the European Union’s NextGenerationEU program, through the H₂ Valles scheme, for the development of 400 MW of the Andalusian Green Hydrogen Valley).
Wetselaar added: ‘Together, we are building a decarbonized industrial hub for #Europe which will boost competitiveness, economic security and growth, while supporting our commitment to reduce emissions.’
