Moeve will begin construction on its 2GW green hydrogen hub in Andalusia this summer after Spain’s plans to extend an energy windfall tax were scrapped, the oil and gas firm’s CEO has said.
Last week, Spain’s minority government failed to extend a 1.2% windfall tax on energy firms with revenues over €1bn ($1.04bn) after the proposal was rejected in parliament.
Moeve, which rebranded from Cepsa to position itself as “a leader in sustainable energy,” had been a vocal critic of the proposal, warning that it could slow its green hydrogen investments in Spain.
But the firm’s CEO Maarten Wetslaar told an event in Madrid today (January 29) that the company would begin construction of its 2GW green hydrogen hub in Andalusia “in a matter of months.”
The company earmarked €3bn ($3.12bn) to build the project, which will include two 1GW plants in Huelva and Cádiz in 2022.
“In a matter of months we intend to begin…
