With the final investment decision of partners BP and Iberdrola, Castellón Green Hydrogen, a 50% joint venture, has been approved to launch Spain's largest green hydrogen project (25 MW), expected to be operational in the second half of 2026. This project is an important step forward for their hydrogen energy business, which can create more value through integration.

The factory is able to convert 200 gigawatt hours of renewable energy from Iberdrola into green hydrogen annually, helping the Castelón refinery achieve decarbonization. In addition, BP expects to reduce about 23,000 tons of carbon dioxide emissions annually, which is equivalent to the emissions of 5000 cars.

In the future, this project will help other industries in the Valencia region that are difficult to reduce emissions achieve decarbonization. The supply can be targeted at industries such as chemical, ceramics, and heavy transportation.