Spanish energy company Moeve has taken the Final Investment Decision (FID) on the initial 300 MW phase of its flagship Andalusia Green Hydrogen Valley project in southern Spain, committing more than €1 billion (US$1.17 billion) to the development following regulatory approvals and grid access agreements. The first phase, dubbed Onuba, will be constructed adjacent to Moeve’s La Rábida Energy Park near Huelva and is expected to produce roughly 45,000 tons of green hydrogen per year once operational.

Moeve’s initial 300 MW phase of its flagship Andalusia Green Hydrogen Valley project in southern Spain will also help decarbonize industrial fuels and transport sectors and mark one of the largest renewable hydrogen investments underway in Europe. The broader 2 GW valley initiative aims to scale electrolyzer capacity across Huelva and Cádiz to produce up to 300,000 tons of green hydrogen annually, supported by solar and wind generation assets, and over €300 million in EU-backed subsidies.

Why is Andalusia Green Hydrogen Valley in Spain important

Andalusia Green Hydrogen Valley is part of Moeve’s Positive Motion 2030 strategy to move away from fossil fuels and build a major renewable hydrogen economy for Spain and Europe. Besides decarbonizing domestic industrial processes and providing low-carbon fuels for aviation, road and maritime transport, the project also supports EU energy independence and contributes to multiple European Union decarbonization targets.

Additionally, the initial 300 MW phase will use a mix of alkaline and proton-exchange membrane (PEM) electrolyzer technologies. These are supplied by Thyssenkrupp Nucera and Siemens Energy, respectively.

Factsheet for Andalusia Green Hydrogen Valley (Onuba Phase)

Location:

• Primary site: La Rábida Energy Park, near Huelva in Andalusia, Spain
• Expansion corridors across Andalusia (Huelva & Cádiz) for future phases

Developer and Majority Owner:

• Moeve with 51% stake

Partners:

• Masdar
• Enalter (Enagas Renovable and Alter Enersun Joint Venture)

Regulatory Authorities:

• European Commission – Projects of Common Interest (PCI)
• MITECO (Spanish Ministry for Ecological Transition and Demographic Challenge)

Technical factsheet

(Initial) Onuba Phase Capacity:

• 300 MW

Full Andalusia Green Hydrogen Valley Capacity:

• 2 GW

Target Operational Date:

• 2029

Electrolyzer Capacity:

• 300 MW total renewable H2 capacity

Alkaline Electrolyzers:

• Supplied by Thyssenkrupp Nucera

PEM Electrolyzers:

• Supplied by Siemens Energy

Projected H2 Output:

• 45,000 tons per year

Primary Uses:

• Industrial decarbonization
• Low-carbon fuels (e.g., green ammonia, methanol)
• Transport sector

Factsheet on finance and funding

Estimated Development Cost for Initial Phase 1:

• €1 billion

Public Funding: More than €300 million by:

• EU NextGenerationEU/PERTE ERHA – Spanish hydrogen competitiveness programs supported grants
• EU Projects of Common Interest designation

Capital Stack Composition:

• Equity: Moeve, Masdar, Enalter
• Public Subsidies: Spanish & EU funding via PERTE ERHA and PCI
• Future Financing: Project-level debt expected post-FID, potentially supported by green bonds or EIB credit lines

Project team developing the 300 MW Onuba Phase of Andalusia Green Hydrogen Valley in Spain

• Moeve – Lead developer and majority owner with 51% stake of the Onuba phase and Andalusia Green Hydrogen Valley project. Moeve is responsible for overall project strategy, capital commitments, permitting and execution.
• Masdar – A shareholder providing capital and renewable energy expertise to support plant development and integration with renewable supply.
• Enalter (Enagas Renovable and Alter Enersun) – A stakeholder representing a joint venture between renewable gas and solar developers. The JV contributes technical and commercial expertise.
• Thyssenkrupp Nucera – Electrolyser equipment supplier for 300 MW of alkaline electrolyzers.
• Siemens Energy – Supplier of 100 MW of PEM electrolyzers to be used alongside the alkaline technology mix.
• European Commission – Regulatory facilitator, designating the project as a European benefit infrastructure and enabling access to EU-backed funding.
• Ministry for Ecological Transition and Demographic Challenge (MITECO) – Offers Spanish government support under the PERTE ERHA program. Also provides subsidy allocations to Onuba and related activities.

Who is financing the Onuba phase of Andalusia Green Hydrogen Valley project

Onuba phase of Andalusia Green Hydrogen Valley project has reached FID with a project budget in excess of €1 billion. This is backed by equity from Moeve and partners alongside over €300 million in public funding from the Spanish government. The public funding is through EU-backed NextGenerationEU, PERTE ERHA program and Spanish regulatory authorities.

Moeve also plans to leverage both renewable power generation and grid-sourced electricity to supply its electrolyzers. This is in a bid to mitigate risk and be cost-effective with long-term hydrogen pricing frameworks.

In the long-term, the full 2 GW Andalusia Green Hydrogen Valley is expected to involve more than €3 billion of total investment and create roughly 10,000 direct, indirect and induced jobs over the construction and operational phases. This is also while facilitating supply chains for hydrogen derivatives like green ammonia and methanol. Construction on another renewable energy project in Andalusia, Plenitude’s 200 MW Entrenúcleos solar park, is also picking up pace ahead of commissioning this year. The solar park is expected to supply 435 GWh annually to Spain’s national electricity grid.

Outlook on the green hydrogen project in southern Spain

Construction of the Onuba 300 MW electrolyzer is expected to start soon following the FID, with commercial production targeted by 2029 as part of plans that will see the 2 GW Andalusia Valley project emerge as a cornerstone of Europe’s green hydrogen supply chain.