29th November 2023
Repsol Campus in Madrid.
Business Industry Main News

‘SHYNE’ consortium in Spain commits €3.2bn investment in renewable hydrogen

A major initiative to promote renewable hydrogen projects across all sectors of the economy in Spain has been launched, led by global energy company Repsol.

The Spanish Hydrogen Network project, known as ‘SHYNE’, brings together 22 companies and 11 associations, technology centres and universities, with the goal of promoting renewable hydrogen projects throughout Spain to speed up the expansion of this renewable energy source as part of the government’s target of decarbonisation.

The project is the first of its kind and aims to become a leading light in promoting renewable energies in Europe.

Leading the project, Repsol will collaborate with various companies to achieve the overall project aims, with an emphasis on highlighting that many sectors can use green hydrogen energy in its processes and that it is not limited in its use.

Key players from a variety of sectors will work with Repsol, including Alsa, Bosch, Celsa, Enagas, Scania and Talgo. Other companies involved with the project include Iberia and Balearia, leaders in air and maritime transport.

The projects under the umbrella of SHYNE involve a total of 3.23 billion euros, covering all aspects of the supply and distribution chains, across all sectors, and is expected to create more than 13,000 jobs in the process.

ALSO READ: Spain plans to lead green hydrogen production with €1.5bn from recovery fund

The initiatives will be implemented in the production, distribution, and use of renewable hydrogen in the industrial sector. The plans also involve implementing its use in transport and other applications that are being developed through innovative technologies that will extend the use of hydrogen energy.

Repsol Campus in Madrid.
Library image of the Repsol Campus in Madrid. (Repsol)

Speaking about the consortium during the presentation launch at Campus Repsol in Madrid, the headquarters of the global energy and petrochemical company, Sara Aagesen, Spain’s Secretary of State for Energy, said that ‘renewable hydrogen is a national project. It is the piece of the puzzle we were missing to move towards the decarbonisation of the economy, achieve climate neutrality in 2050, and advance in the development of knowledge, ‘made in Spain’ technology and the consolidation of the business fabric and industrial value chains’.

The presentation’s closing remarks were from Raül Blanco, Secretary General of Industry and SME’s, who highlighted the importance of the SHYNE consortium, saying that ‘Spain has a unique opportunity and all the capacity to lead the hydrogen industrial value chain in Europe’.

Spain is positioned well to develop hydrogen energy, with widespread availability of solar and wind resources to generate this renewable energy. It is seen as key to introduce hydrogen energy to all aspects of production and distribution chains, across all sectors.

A knowledge management centre is to be set up in Madrid to co-ordinate the project and establish a network that allows hydrogen energy to be developed as intended, as a significant, reliable, sustainable and cost-effective energy resource.

The SHYNE project will help Spain to capitalise on the opportunity to develop hydrogen energy use and be an integral part of the country’s economic recovery and future development plans.

ALSO READ: Spain plans to lead green hydrogen production with €1.5bn from recovery fund.

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