Moeve has announced that Hy24 and COFIDES have acquired a combined 29 per cent stake in the Onuba green hydrogen project in Andalusia, Spain. Moeve will retain a majority 51 per cent stake in the project alongside minority partners Enagás Renovable and Alter Enersun. The project marks the first phase of the 2 GW Andalusian Green Hydrogen Valley project in Europe and will feature 300 MW of electrolysis capacity, with an option to add a further 105 MW, subject to grid capacity and board approval.
Furthermore, the project involves more than €1 billion in investment and is located at Moeve’s Energy Park in Palos de la Frontera, Huelva. Germany-based thyssenkrupp nucera will supply 300 MW of alkaline water electrolysis technology for the project. The project also received €304 million in government funding under Spain’s Hydrogen Valleys scheme. Once operational, the project is expected to produce around 45,000 tonnes of green hydrogen annually.
In April 2026, ATOME Plc reached a financial investment decision on its 260,000 tonnes annual low-carbon fertiliser plant in Villeta, Paraguay. The $665 million project includes $420 million in debt and $245 million in equity financing. Hy24 led the project’s equity investment through its Clean Hydrogen Infrastructure Fund. Full production at the plant is expected to commence by October 2029.