Moeve and Masdar Launch $1.2 Billion Green Hydrogen Project in Spain
Moeve has approved a €1.2 billion green hydrogen project with Masdar as a minority partner. The project, part of the Andalusian Green Hydrogen Valley, will initially deliver 300 MW of capacity, potentially increasing to 400 MW. It is supported by over €300 million in EU subsidies and includes a dedicated solar power plant. Moeve retains a 51% stake, while Masdar and Enalter hold the remainder. This initiative aligns with Moeve's €8 billion strategic shift towards low-carbon solutions.
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Moeve, a Spanish energy company, has approved a green hydrogen project with an investment exceeding €1.2 billion, partnering with Abu Dhabi's Masdar. The project is the first phase of the Andalusian Green Hydrogen Valley, initially providing 300 MW of capacity with potential expansion to 400 MW based on grid availability.
It has secured over €300 million in EU subsidies and includes a dedicated solar power plant. Moeve retains a 51% stake, while Masdar and Enalter hold the remaining interest. This investment aligns with Moeve's broader €8 billion strategic shift towards low-carbon businesses, having divested most oil assets since 2022. Moeve reported a net profit of €341 million in 2025, reflecting its improved financial performance.
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