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Signature(s)

Amount
€ 53,000,000
Countries
Sector(s)
Spain : € 53,000,000
Energy : € 53,000,000
Signature date(s)
1/04/2022 : € 53,000,000
Link to source

Summary sheet

Release date
7 April 2022
Status
Reference
Signed | 01/04/2022
20210187
Project name
Promoter - financial intermediary
IBERDROLA GREEN HYDROGEN
IBERDROLA SA
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 53 million
EUR 112 million
Location
Sector(s)
  • Energy - Electricity, gas, steam and air conditioning supply
Description
Objectives

Implementation and operation of a medium-scale photovoltaic (PV) plant (nominal capacity 100 MWp) including a battery storage system (storage capacity 20 MWh, power 5 MW), directly connected to a large-scale electrolyser (20 MW) for hydrogen production, using partially the renewable (PV) energy capacity (35 MW). The hydrogen will be supplied to the fertiliser industry, situated nearby the PV plant, replacing hydrogen from natural gas. The project is located in Spain, Ciudad real (Castilla-La Mancha, convergence region).

The operation aims at financing a green hydrogen plant for industrial use in the Spanish province of Ciudad real (Castilla-La Mancha, convergence region). The plant consists of a 100MW PV site and storage capacity of 20 MWh) as well as a large-scale electrolyser (20 MW) and a dedicated transmission line. The "green hydrogen" will be used to nurture a fertiliser plant.

Additionality and Impact

The project entails the development and implementation of a large scale hydrogen generation plant (20 MW) based on electrolysis, fully powered by on-site renewable energy, via a dedicated transmission line to a 100 MW solar PV plant and the support of a 5 MW/20 MWh battery system.

 

The project will produce electricity from a low carbon source (solar PV) and displace fossil fuel-based hydrogen by "green" hydrogen, thus addressing the market failure of negative climate and environmental externalities, through the reduction of carbon emissions and air pollution. Furthermore, the project will make a contribution to the scale-up of the electrolyser's supply chain. It is also testing the use and benefits of energy storage via batteries.

 

The project supports the EU and national targets on renewable electricity and hydrogen generation, and thus 2030 decarbonisation and climate targets. The project also contributes to the goals of the EU Hydrogen Strategy (0.3% of capacity target for 2024), to the capacity target of the national Hydrogen Roadmap (by 0.5%) and to the sustainable development of an EU Less Developed region (also classified as EIB Priority Cohesion region). It is fully in line with the high priority areas of EIB's Energy Lending Policy. It contributes 100% to the EIB's Climate Action and Environmental Sustainability priorities.


The Bank's financial contribution is considered valuable to the client, as the EIB's offering is more favourable than market alternatives under various dimensions (e.g. longer tenor, availability and grace periods, convertible or revisable rates). EIB financing has also catalysed additional funding from the Spanish National Promotional Bank (ICO).


Environmental aspects
Procurement

The project may include components that fall under Annex II of the EIA Directive (2011/92/EU), which requires the competent national authority to determine the need for an environmental impact assessment (EIA). The impacts that can be typically expected for some schemes relate to visual impact, impact on flying vertebrates, electromagnetic fields, noise nuisance, and disturbances during construction, as well as the possible impacts on protected fauna and flora (Habitats 92/43/EC and Birds 2009/147/EC). This operation is expected to contribute towards climate action objectives, and is aligned with EIB commitments as the EU Climate Bank.

The Promoter is a private entity. The contracts for the implementation of the project will be tendered in accordance with the relevant applicable national public procurement legislation in line with the EU Directives.

Link to source
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Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Documents

Environmental and Social Impact Assessment (ESIA) - IBERDROLA GREEN HYDROGEN - Documento Ambiental para actividades del Anexo II
Publication Date
27 Apr 2022
Document language
Main Topic
Lending
Document Number
150425156
Document Focus
Environmental Information
Project Number
20210187
Sector(s)
Regions
Countries
Publicly available
Download now
Environmental and Social Impact Assessment (ESIA) - IBERDROLA GREEN HYDROGEN - Estudio de impacto ambiental
Publication Date
27 Apr 2022
Document language
Main Topic
Lending
Document Number
150432446
Document Focus
Environmental Information
Project Number
20210187
Sector(s)
Regions
Countries
Publicly available
Download now
Environmental and Social Data Sheet (ESDS) - IBERDROLA GREEN HYDROGEN
Publication Date
27 Apr 2022
Document language
Main Topic
Lending
Document Number
151557700
Document Focus
Environmental Information
Project Number
20210187
Sector(s)
Regions
Countries
Publicly available
Download now
Environmental and Social Completion Sheet (ESCS) - IBERDROLA GREEN HYDROGEN
Publication Date
28 Nov 2024
Document language
Main Topic
Lending
Document Number
205826100
Document Focus
Environmental Information
Project Number
20210187
Sector(s)
Regions
Countries
Publicly available
Download now
Other links

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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