EMEA News
Moeve Starts Construction Green Hydrogen Plant in Spain
Energy company Moeve has started construction of a 300 MW green hydrogen plant in Spain that will supply renewable hydrogen for lower-carbon fuels, including for shipping.
The Onuba project in Palos de la Frontera, Huelva, represents an investment of more than €1 billion, the firm said in a press release on Thursday.
Moeve holds a 51% stake, while Hy24 and Spain's public-private finance institution COFIDES hold a combined 29%. Enagás Renovable and Alter Enersun own the remaining 20%.
The plant is expected to produce around 45,000 mt/year of renewable hydrogen and avoid about 250,000 tonnes of CO2 emissions.
The hydrogen will support the production of lower-carbon fuels for road, aviation and maritime transport, as well as other industrial uses.
Onuba has been designated a Project of Common Interest by the European Union and has secured €304 million in Spanish government funding under the NextGenerationEU-backed recovery plan.
The wider Andalusian Green Hydrogen Valley is planned to reach 2 GW of electrolysis capacity across Huelva and San Roque, Cádiz.
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| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 889.50 | 18.50 | 1281.00 | 10.50 |
| Rotterdam | 715.00 | 13.00 | 1374.00 | 42.50 |
| Houston | 763.00 | 3.00 | 1419.50 | 4.50 |
| Fujairah | 967.50 | 20.50 | 1694.50 | 21.50 |
| EMEA Average | 885.50 | 1.00 | 1692.50 | 0.50 |
| Global 20 Ports Average | 895.50 | 1.50 | 1548.50 | 6.50 |
| Global 4 Ports Average | 833.50 | 12.50 | 1442.50 | 17.50 |
| Global Average Bunker Price | 959.50 | 13.50 | 1592.50 | 0.00 |
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