- Lhyfe aims for 200 MW green hydrogen capacity by 2026 and 3 GW by 2030.
- Capital Energy has a 7.5 GW offshore wind development pipeline in Spain and Portugal.
- Lhyfe's Sealhyfe, an operational offshore hydrogen prototype, was inaugurated in France in 2022.
- The agreement may extend to other markets in the future.
Collaboration Agreement
Lhyfe and Capital Energy have signed an agreement to jointly develop offshore renewable hydrogen projects in Spain and Portugal. Lhyfe is a pioneer in green and renewable hydrogen production, while Capital Energy is a Spanish energy producer aiming to become the first 100% renewable vertically integrated energy operator on the Iberian Peninsula.
Project Development
Under the agreement, the companies will create hydrogen production sites at some of Capital Energy's offshore wind farm locations. Capital Energy has a development pipeline of over 7.5 gigawatts (GW) in Spain and Portugal. The joint installation of offshore wind farms and hydrogen production sites is expected to yield economic benefits through economies of scale and social benefits by requiring a greater number and variety of suppliers and specialists.
Energy System Benefits
The initiative will benefit the energy system by making wind energy more controllable and avoiding curtailments. In cases of grid congestion, power can be redirected from the grid to the hydrogen production unit, with some wind turbines directly connected to it.
Future Expansion
The collaboration agreement between Capital Energy and Lhyfe could be extended to other markets in the future. Lhyfe's operational prototype for offshore green hydrogen production, Sealhyfe, was inaugurated in France in September 2022. The company aims to achieve 200 MW of green hydrogen production capacity by the end of 2026 and 3 GW by the end of 2030, with projects in 11 countries and a dedicated team of over 149 staff.
