Moeve Reaches The Final Investment Decision To Begin Construction Of Southern Europe’s Largest Green Hydrogen Project

This decision to launch Southern Europe’s largest green hydrogen plant marks a defining step in Moeve’s Positive Motion transformation strategy.

The first phase of the Andalusian Green Hydrogen Valley will involve a total global investment of more than €1 billion and includes minority participation from Masdar and Enalter, majority controlled by Enagás Renovable. Moeve’s Board of Directors has approved the final investment decision to begin construction in the coming weeks of the Andalusian Green Hydrogen Valley. The first phase, known as Onuba, will be the largest in Southern Europe with 300 MW of capacity and the option to expand by an additional 100 MW.

Onuba entails a total global investment of more than €1 billion, including associated infrastructure and the development of a self consumption photovoltaic plant. The project, led by Moeve with a majority stake (51%), will also include participation from Masdar, a global clean energy leader, and Enalter (majority owned by Enagás Renovable, a pioneering company in the development of renewable gases).

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“This decision to launch Southern Europe’s largest green hydrogen plant marks a defining step in Moeve’s Positive Motion transformation strategy. Onuba will anchor a world-class hub for green molecules in Spain, supplying renewable fuels to hard-to-abate sectors while reinforcing Europe’s energy and industrial resilience. By partnering with other leaders in renewable energy, we are creating an ecosystem to build at scale.”

Maarten Wetselaar, CEO of Moeve

Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said: “As an early mover in this sector, we have long recognized green hydrogen’s role in decarbonizing hard-to-abate sectors. This partnership, under the leadership of Moeve, reflects our strategy of advancing commercially viable green hydrogen projects in markets where demand is clear. We are also pleased to be advancing our support for Spain’s clean energy ambitions.”

Antón Martínez, CEO of Enagás Renovable, said: “The Onuba project represents a significant step forward for the development of green hydrogen in Spain. At Enagás Renovable we continue to support projects that drive energy independence, foster new industrial opportunities and contribute to job creation. The Andalusian Green Hydrogen Valley is a clear example of how collaboration between companies and institutions can accelerate decarbonization while generating long-term economic and social value.”

The initiative has been designated as a Project of Common European Interest (PCI) by the European Commission and has received €304 million from the Government of Spain under the Recovery, Transformation and Resilience Plan, financed by the European Union’s NextGenerationEU program, through the Hydrogen Valleys scheme, for the development of 400 MW of the Andalusian Green Hydrogen Valley.

The execution of the additional 100 MW of Onuba is subject to obtaining additional grid capacity and board approval.

At 300 MW, Onuba will have the capacity to produce around 45,000 tonnes of green hydrogen per year, avoiding about 250,000 tonnes of CO 2 annually — the equivalent of reducing more than all the emissions generated by passenger vehicles with internal combustion engines in the Spanish cities of Huelva, Cádiz, and Jaén (*).

The green hydrogen from the plant will be used for aviation, road and marine transport fuels, in addition to supplying energy to decarbonize the chemical and fertilizer industries.

(*) “The calculation of the passenger-car equivalence has been carried out based on the official emission factors of the Ministry for Ecological Transition and Demographic Challenge (MITECO) and on data from the passenger-car fleet in Spain published by the Directorate-General for Traffic (DGT), in accordance with their official reports and statistical databases.”