Hy24, COFIDES take 29% stake in Moeve-led Onuba green hydrogen project

• Hy24 invested in Moeve’s Onuba renewable hydrogen project in southern Spain via a strategic partnership with Moeve.
• Hy24 and COFIDES took a combined 29% stake; Moeve retained 51% in the first phase of the Andalusian Green Hydrogen Valley.
• First phase targets 300 MW of electrolysis capacity; total investment exceeds EUR 1 billion; project reached final investment decision in March.
• Onuba is expected to produce about 45,000 tonnes of green hydrogen annually; targeted CO2 reduction around 250,000 tonnes per year.
• Project secured EUR 304 million in Spanish government support under the EU-backed Recovery, Transformation and Resilience Plan.

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