Hydnum Steel receives 150 million euros from Cofides for Spain's first green steel plant

Cofides, through its Fund of Co‑investment (FOCO), has committed €150 million to Hydnum Steel for the construction of a green‑steel complex in Puertollano, Ciudad Real. The investment is part of a larger financing package exceeding €1.5 billion, comprising roughly €600 million in equity and €1 billion in debt. The plant will be the first on the Iberian Peninsula to produce clean steel using green hydrogen instead of coal, supporting the EU’s goal to decarbonise the steel sector.

The project has secured key approvals, including a favourable decision from the Confederación Hidrográfica del Guadalquivir and 500 MW of grid capacity at the Brazatortas node. Commercial agreements guarantee 100 % of the first‑phase production capacity for the first five years of operation. Hydnum Steel expects earth‑moving works to start by the end of the year.

Ángela Pérez, president of Cofides, said the project “contributes to transform strategic sectors for the economy” and will “accelerate the decarbonisation of European industry”. Eva Maneiro, CEO of Hydnum Steel, described the Cofides backing as a “fundamental boost” for reindustrialisation and the transition to a sustainable European steel industry.