Iberdrola and the world's leading manufacturer of electrolysers, Nel – through Nel Hydrogen Electrolyser – have combined their capacities to turn Spain into a technological and industrial benchmark in green hydrogen. The companies have signed a Memorandum of Understanding (MoU) to develop and deploy large-scale electrolyser projects and promote the technology’s supply chain in Spain.In addition, and in order to deliver this project, Iberdrola and Basque company Ingeteam have created a new venture under the name of Iberlyzer, set to become Spain’s first integrator of large-scale electrolyser plants.

Norwegian company Nel is the world's largest manufacturer of electrolysers with business operations in over 80 countries. It is a global company dedicated to hydrogen, offering optimal solutions for producing, storing and distributing hydrogen from renewable energy. Its roots date back to 1927 and its hydrogen solutions cover the entire value chain, from hydrogen production technologies to hydrogen fueling stations. Its shares are listed on the Oslo Stock Exchange.

The new company will begin operations next year with the aim of integrating more than 200 MW of electrolysers by 2023. This output (representing over 50% of Spain’s electrolyser capacity target) would be destined for the second project of the Iberdrola-Fertiberia alliance, which will produce green hydrogen for the Palos de la Frontera plant in Spain.

The Ingeteam Group, a global supplier to Iberdrola, specialises in electricity conversion, with operations all over the world and permanent operations in 24 countries, employing more than 4,000 people.

The Iberlyzer industrial project will require close to €100 million investment and will create 150 direct skilled jobs.

Ignacio Galán, Chairman and CEO of Iberdrola, said: “This initiative will accelerate the production of green hydrogen in Spain and will create a new industry, the manufacturing of electrolyser systems, with high growth potential. We continue to make progress in our ambitious plan to put Spain and Europe at the global forefront of this technology by reducing energy dependence and fossil fuel consumption while driving the country’s economic and social revitalisation.”

Jon André Løkke, CEO of Nel, said: "We are honored that Iberdrola wants to work more closely together with us on electrolyser projects in the 100-MW scale and beyond. Just as Iberdrola in the past successfully contributed to developments in the wind industry, they are now doing the same within hydrogen. Getting visibility on significant off-take volumes and working together on the value chain through scale-up will contribute massively to the overall cost reductions.”

Adolfo Rebollo, CEO of Ingeteam, said: "We are proud to participate with Iberdrola in this new and exciting project. From the very beginning we have worked together with Iberdrola in the field of renewable energy, first in wind energy, then in solar photovoltaics and from today, with the creation of Iberlyzer, we are at the forefront of developing the green hydrogen industry."