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2026-09-17 12:15 UTC → 2026-09-17 21:38 UTC ·
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Moeve, a company controlled by Mubadala and The Carlyle Group, Moeve has officially commenced construction on the Onuba plant in Palos de la Frontera, Huelva. This marks the first phase of the Andalusian Green Hydrogen Valley, described as the largest green hydrogen project in Europe. The initial phase involves an investment exceeding 1 billion euros, covering associated infrastructure and a photovoltaic plant for self-consumption. The Onuba plant will feature an electrolysis capacity of 300 MW, with the potential for an additional 105 MW. Once operational, which is expected in 2029, the facility is expected to produce approximately 45,000 tonnes of renewable hydrogen annually, aiming to reduce CO2 emissions by 250,000 tonnes per year and support decarbonization in industrial processes as well as heavy road, maritime, and air transport. Moeve holds a 51% majority stake in the project. Strategic partners Hy24 and COFIDES hold a 29% stake, while Enagás Renovable (16%) and Alter Enersun (4%) hold the remaining 20%. The project has received 304 million euros in funding through the NextGenerationEU recovery plan. Moeve estimates the project will create over 8,000 direct and indirect jobs and support more than 400 small and medium-sized enterprises. The project is supported by strategic partners Hy24 and COFIDES, following the exit of Masdar from the capital structure. The broader long-term objective for the region is to develop a total electrolysis capacity of 2 GW across Huelva and Cádiz. Upon completion, the full project is projected to produce up to 300,000 tonnes of green hydrogen annually, potentially preventing six million tonnes of CO2 emissions per year.