Iberian Peninsula to gain €2.3bn green hydrogen megaproject for zero-carbon steel production

A new €2.3bn ($2.6bn) green hydrogen megaproject is set to be developed by H2 Green Steel and Iberdrola that aims to introduce a 1GW green hydrogen plant for green steel production.

The green hydrogen plant, expected to be situated in the Iberian Peninsula, will introduce a two million tonne direct reduction tower which will be fed green hydrogen to generate a green variant of steel.

This will be fed through a 1GW electrolyser jointly owned by the two companies.

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