ErasmoPower2X will connect a utility-scale solar PV plant to an electrolyzer with an expected minimum capacity of 500 MW, to meet the regional and national objectives for increasing penetration of renewables and industrial decarbonization, aligned with the European Union’s efforts towards energy transition.
The project’s strategic location close to the industrial area of Puertollano, as well as the future Spanish hydrogen backbone infrastructure, will secure supply to large industrial off-takers in the country. The project already has an agreement in place with a major industrial off-taker to displace fossil-based feedstocks.
The project has strong support from the Regional Government of Castilla La Mancha as well as the National Hydrogen and Fuel Cell Technology Testing Centre (CNH2) in Spain. Moreover, the partnership between Soto Solar and Power2X fits the objectives of the Memorandum of Understanding signed between Spain and The Netherlands in February 2023 to promote cooperation between the two EU countries in the development of green hydrogen.
The project is currently under development and is expected to be fully permitted and ready for a final investment decision by the end of 2025, with construction to commence thereafter and the first hydrogen production in late 2027. The consortium members are exploring opportunities to further expand their project and add new projects to the Spanish portfolio.
Niels van Buuren, Partner at Power2X, commented: “This utility-scale integrated green hydrogen project will be amongst the largest in Europe. At Power2X we are excited that, through our project execution and financial capabilities, we will be – together with Soto Solar and all relevant Spanish stakeholders – at the forefront of the Spanish energy transition.”
María Trinidad Navarro, Managing Director at Soto Solar, said: “Project Erasmo-Power2X connects sustainable renewable power with the local community. Since the beginning of this exciting journey, the team has focused on developing a strategic large-scale solar and green hydrogen project that puts all stakeholders in the center: from locals, to neighbors, to regional authorities.”
Bas Dekker, CEO at ErasmoPower2X, added: “We are thrilled to announce the next phase in realizing our vision of a giga-scale solar and green hydrogen project in central Spain. With the expertise, network, and capital strength of our two shareholders, we’re confident that this project will not only benefit Spain but also help us move closer to a more sustainable future.”