Capital Energy, a Spanish energy company born more than two decades ago and whose vocation is to become the first 100% vertically integrated renewable operator in the Iberian Peninsula, and Lhyfe, one of the world pioneers in the production of green hydrogen and in generation projects of offshore hydrogen, have signed a collaboration agreement whose objective is the joint development of renewable hydrogen marine projects in Spain and Portugal.
Under the terms of the agreement, both companies will build offshore hydrogen production plants in some of the locations where Capital Energy is developing offshore wind farms, which already has a pipeline of more than 7.5 gigawatts (GW) in development. these two countries.
For Lhyfe and Capital Energy, the joint installation of offshore wind farms and marine hydrogen plants would bring environmental benefits, as two key vectors mutually benefit to continue advancing in the energy transition; economic, by taking advantage of economies of scale; and social, by increasing the industrial tractor effect of the projects, given that they will require a greater number and variety of suppliers and professionals.
Likewise, these initiatives would benefit the energy system as a whole, since the wind energy generated in these parks would be manageable, thus avoiding the so-called curtailments. For example, in the event of grid congestion, it would be possible to send less power to the grid and more to the hydrogen plant, to which a portion of the wind turbines would be directly connected.
This collaboration agreement between Capital Energy and Lhyfe could be extended to other markets in the future.
Lhyfe is the only company in the world that already has an operational prototype of a marine green hydrogen plant, Sealhyfe, located in France and inaugurated in September 2022. The company aims to put 200 megawatts (MW) of green hydrogen production into operation at end of 2026 and 3 gigawatts (GW) by the end of 2030. Present with projects in 11 countries, Lhyfe has more than 149 employees dedicated 100% to the production of renewable hydrogen.
Pablo Alcón, director of Offshore at Capital Energy, has pointed out that “we have spent years betting on green hydrogen in the Iberian Peninsula and it was time to jump into the sea, for which we have joined the best possible partner, Lhyfe, who has extensive experience in offshore hydrogen generation. With this alliance, we intend to allocate part of the energy from our offshore wind farms to the production of hydrogen, which will contribute to promoting the energy transition in a balanced way and will solve possible bottlenecks in the electrical system. In addition, the socioeconomic benefit of our offshore projects will increase, by undertaking larger investments and generating a greater number of qualified jobs”.
For his part, Frans Pieter Lindeboom, director in Spain of Lhyfe, has assured that “this agreement with Capital Energy represents an exciting opportunity to promote the transition towards clean energy through the large-scale production of ecological hydrogen on the high seas. The production of H2 by electrolysis in the high seas will maximize the enormous potential of offshore wind energy in Spain and Portugal. These countries can become world leaders in the production of green and renewable hydrogen, moving away from their reliance on fossil fuels and improving their domestic energy security, while providing net zero emissions and boosting local economies.”
About Capital Energy
In line with its commitment to the ecological and fair energy transition, Capital Energy currently has a significant portfolio of onshore wind and solar projects in the Iberian Peninsula, with a capacity of more than 25 gigawatts (GW), and offshore wind (7 .5 GW of capacity). The company is already present in the entire renewable generation value chain: from development, where it has a consolidated position thanks to its track record of more than 20 years, to construction, production, storage, operation and supply. The company has 16 offices in Spain and Portugal in which around 360 employees work.
About Lhyfe
Lhyfe is a European group dedicated to the energy transition, producer and supplier of green and renewable hydrogen. Its production centers and its portfolio of projects aim to facilitate access to green and renewable hydrogen in industrial quantities and allow the creation of a virtuous energy model capable of decarbonising entire sectors of industry and transport.
In 2021, Lhyfe inaugurated the world’s first industrial-scale green hydrogen production plant interconnected with a wind farm. In 2022, Lhyfe inaugurated the world’s first pilot offshore green hydrogen production platform.
