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IN BRIEF: EUR211 million reallocated to BP, Iberdrola hydrogen venture

Iberdrola SA - Bilbao, Spain-based electric utility company and BP PLC - London-based oil major - Receive approval from the Spanish Ministry for the Ecological Transition and the Demographic Challenge for the reallocation to Castellon of up to EUR211 million in funding from EU's IPCEI Hy2USE programme. "This will enable both companies to explore new opportunities to increase green hydrogen production at bp's refinery in Castellon," Iberdrola says. The joint programme is receiving an additional EUR15 million in funding from the NextGenerationEU fund, and is expected to begin green hydrogen production before the end of 2026. The project is set to become Spain's largest green hydrogen plant. Click here to Read More

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FTSE 100 Latest
Value10,529.89
Change68.26