UK-headquartered Renewco Power (Renewco) and INDHO, a pioneering green hydrogen (H₂) developer based in Ciudad Real in central Spain, have announced the launch of Indhyco, an exciting new development platform exclusively focused on green H₂ projects throughout the Spanish market.

Indhyco will develop green H₂ projects with an emphasis on industrial consumption through efficient production of H₂ close to the source of consumption and enabled by renewable power generation. 

This new joint venture (JV) will combine Renewco’s expertise in developing renewable energy projects across Europe and the U.S. with INDHO’s unique know-how and extensive experience of the green H₂ sector in Spain.

Indhyco’s goal is to develop 1 GW of green H₂ projects to the ready-to-build (RTB) stage within 5 yr.  

Renewco is a renewable energy platform dedicated to developing solar PV, onshore wind, battery storage and green H₂ projects across Europe and the U.S. Since launching in 2021, Renewco has rapidly developed a 5-GW pipeline from 50 projects of solar, wind, BESS and green H₂ projects across the UK, Spain, Italy and the U.S.

Many of these projects are advancing to the ready to build RTB stage in the next 3 yr.

INDHO was one of the first companies to start developing renewable H₂ projects in Spain and Chile in 2016. They have since developed two green H₂ projects in Spain, both of which have now reached the RTB stage.

Pedro Perejon, Renewco’s Business Development Director in Spain, said: “This new platform will strengthen Renewco's position and diversify our existing green H₂ development strategy in Spain, one of the key regions in what is a fast growing sector. Furthermore, the opportunity to work with our partners Fernando and Ricardo, two pioneering leaders of green H₂ sector in Spain with more than 25 yr of experience, will enable the new platform to hit the ground running and give us a deep-rooted knowledge of the green H₂ ecosystem in Spain.” 

Javier Salgado, Renewco’s H2 Manager, said: “With this new alliance, we will play an important role in addressing the urgent industrial decarbonization demands through the development of green H₂ projects. This energy vector will significantly contribute towards reducing harmful emissions for the wider energy industry with the production of green derivatives that will play a crucial role in addressing this challenge.” 

Fernando A. Román, Director at INDHO, said: “Indhyco projects contribute to the energy transition in our country by utilizing renewable energy capacities with existing electricity and natural gas infrastructures. This enables access to both the industrial, and domestic sectors.”

Ricardo Izquierdo, Director at INDHO, said: “Indhyco is equipped with all the necessary capabilities and is poised at a crucial moment to significantly contribute to achieving the ambitious goals and objectives set by the governments of Spain and the European Union for the development of green hydrogen production plants.”