Renewco Power, headquartered in the UK, and INDHO, a leading Spanish green hydrogen developer, have unveiled Indhyco, a joint venture exclusively focused on green hydrogen projects across the Spanish market.
Focused on Industrial Consumption
Indhyco aims to develop green hydrogen projects that cater primarily to industrial consumption. This will be achieved through efficient hydrogen production located near consumption sites, powered by renewable energy sources.
This collaboration brings together Renewco’s experience in developing renewable energy projects throughout Europe and the US with INDHO’s extensive knowledge and experience in the Spanish green hydrogen sector. Indhyco’s ambitious goal is to have 1 GW of green hydrogen projects ready for construction within five years.
Renewco’s Expanding Renewable Portfolio
Renewco is a renewable energy platform specializing in solar PV, onshore wind, battery storage, and green hydrogen projects across Europe and the US. Since its launch in 2021, Renewco has swiftly built a 5 GW pipeline of 50 projects, many of which are expected to be ready for construction in the next three years.
INDHO has been a pioneer in developing renewable hydrogen projects in Spain and Chile since 2016. They have successfully developed two green hydrogen projects in Spain, both of which are now ready for construction.
Strengthening Renewco’s Position in Spain
Pedro Perejon, Renewco’s Business Development Director in Spain, highlights that this new platform strengthens Renewco’s position and diversifies its green hydrogen strategy in Spain, a key region in the rapidly growing sector.
The partnership with INDHO’s experienced leaders will provide Indhyco with deep-rooted knowledge of the Spanish green hydrogen ecosystem.
Addressing Urgent Decarbonization Needs
Javier Salgado, Renewco’s H2 Manager, emphasizes the importance of Indhyco’s role in meeting urgent industrial decarbonization demands. Green hydrogen, as an energy vector, will significantly contribute to reducing emissions in the wider energy industry by enabling the production of green derivatives.