The war in Iran and the energy crisis unleashed with it have elevated renewables as the path to energy autonomy. But the equation does not end with them. All the effort made in the last two decades, the years of the massive entry of these energies, has allowed Spain's energy dependence to be reduced from 77% in 2004 to 69% in 2024. Less than ten points.
Gas and oil also count. They account for approximately 70% of all energy consumed. The external dependency rate is twenty points higher than the European average, according to Eurostat data. The most affected vectors are transport and industry, especially vulnerable to geopolitical tensions and which have more difficulty in their electrification.
This data, and this analysis, were transferred this week to the media by Enagás Renovables, formerly a subsidiary of the Spanish gas system operator and which just over a week ago changed hands in a multi-party operation.
Change in Shareholding
On the one hand, it acquired 31.5% of Teréga, a partner in the green hydrogen corridor megaproject H2Med, overtaking the French public company EDF in capital. And, in a parallel and synchronized move, it sold 40% of Enagás Renovables to Hy24, a hydrogen investment platform controlled by the Ardian fund and FiveT Hydrogen.
This platform now becomes the largest shareholder of the company, with 80% of the capital. In addition to buying part of Enagás's stake – the system operator remains with 20% –, it also bought respective 5% stakes from Navantia and Pontegadea, the company of Spanish magnate Amancio Ortega.
What hydrogen projects are there right now?
Putting aside biomethane production, the company currently has a dozen projects underway in various stages of development. With 2030 on the horizon, it plans to add 250 MW of generation with an investment mobilization of 800 million euros. From that date, it projects investments of 1.2 billion to add another 600 MW of installed capacity.
At this time, more than 410 MW of capacity are under construction in large consumption centers. The largest projects under construction are Onuba (300 MW) and Cartagena (100 MW), aimed at replacing gray hydrogen in industrial plants and decarbonizing activity.
Pilot project
To get an idea of the potential of these plants, one only needs to check the possibilities developed in Mallorca. On this island, Enagás Renovables launched a pilot project in 2022 to open a vein in the development of hydrogen infrastructures, and from which to capture the necessary experience to face larger-scale installations.
The plant was set up within Cemex's industrial facilities, as part of the reindustrialization agreement reached when the cement company decided to close its operations. After overcoming technical problems related to the electrolyzer's design that forced the suspension of activity, the plant resumed its operations in 2024.
It was one of the first green hydrogen projects to receive European funding, 10 million euros through the European Commission. A total investment of 50 million is planned, covering both renewable electricity generation and the necessary equipment for hydrogen production and distribution.
It has a capacity of only 2.5 MW, as it is a small-scale pilot project in Lloseta, but its consumption proves the potential of this type of infrastructure. In the case of the Mallorca plant, its uses are of three types:
- Injections to the gas network. Part of the generated gas is injected directly into the island's natural gas distribution network, decarbonizing domestic and industrial consumption
- Decarbonized public transport. The plant supplies hydrogen to a fleet of five EMT Palma buses, the plant's first public client. The Mallorcan capital became the second Spanish city after Barcelona to have a fleet of this type.
- Fuel cells. Generation of thermal and electrical energy for a hotel in Palma, with the prospect of supplying another fuel cell that will be located at a terminal in the port.
The project is designed for scalability to replicate the model in more islands, within and outside the European Union. In addition to institutions and study centers, companies such as Acciona, Redexis or Calvera participate in the project.