Huge Repsol News
Excitement is palpable in the Spanish energy community following the huge news this week of the major role to be played by Repsol in the H24All hydrogen consortium. Industry sentiment reflects the announcement as an absolute game-changer and analysts are all over the story.
When the specifics of the move are considered, the relevance becomes obvious.
Not only that, but the H24All consortium (15 partners including Repsol) have already made formal application for European Green Deal Funding.
The Green Deal objective is to reduce the cost of obtaining renewable hydrogen down to almost €3/kg. That is a figure which would change the entire energy industry from top to bottom in a massively positive manner. All indications are that the H24All consortium can achieve this objective. The Partners from Spain, Belgium, Denmark, German y, Norway and Turkey bring together vast experience in technical, scientific, industrial, engineering and commercial disciplines.
2025 is just around the corner and Repsol are committed a hydrogen production equivalent of 400 MW by then in the Iberian Peninsula. No other company in Spain comes close to these figures, whether we consider consumption or production. The fantastic talent of the people in the Repsol Technology Lab must be recognized as a major factor in this success.
Repsol have a clear strategy for the transformation of its industrial complexes into multi-energy hubs and this is just another indication of how dynamic this company is and how well prepared it has become for net zero emissions objectives and the changing energy panorama in general.
Jaime Martín Juez, Repsol´s Executive Director of Technology and Corporate Venturing was kind enough provide some commentary exclusively for Paul Laurence Sweeney. He said:- “Repsol has a clear ambition of becoming a leader in low-carbon hydrogen in the Iberian Peninsula, and if this project is accepted, the installation of this 100 MW electrolyzer at our Petronor refinery in Bilbao will allow us to take another significant step in that direction. In any case, low-carbon hydrogen will be one of the key levers for Repsol on the road to becoming a net zero emissions company by 2050.
It will play a key role in the adaptation of the compan´s industrial assets to the concept of the refinery of the future and will help us substantially reduce the CO2 emissions from our activities. It also adds a new dimension to storage of electricity from renewable sources and is complementary to our efforts in growing renewable generation, biofuels and synthetic fuels that aim to progressively decarbonize the energy mix”.
As you will appreciate from the above, these are hugely exciting times in Repsol and we are very thankful to Jaime Martín Juez for taking time from his busy schedule to attend to us.
Paul Laurence Sweeney