Masdar and VERBUND to Explore Developing Large-Scale Green Hydrogen Production in Spain

Masdar and VERBUND to Explore Developing Large-Scale Green Hydrogen Production in Spain. Masdar Bahrain Iran Iraq Jordan Kuwait Lebanon Oman Palestine Qatar Saudi Arabia Syria United Arab Emirates Yemen Algeria Egypt Libya Morocco Sudan Tunisia Western Sahara United Kingdom United States of America Canada France Germany Spain Switzerland District of Columbia

Masdar, the UAE's flagship renewable energy company, and VERBUND Green Hydrogen GmbH, part of VERBUND group, Austria's leading energy company, sign agreement at COP28 to explore feasibility of large-scale electrolysis in central Spain.Agreement creates a 50:50 partnership for a joint study to explore the development of green hydrogen, while consolidating Masdar's and VERBUND's strong commitment in Spain and EuropePotential green hydrogen produced could be used to decarbonize hard-to-abate industries in Spain and central Europe to meet net-zero goals.and connect: facebook.com/masdar.ae and twitter.com/masdar

 About VERBUND

VERBUND Green Hydrogen GmbH is part of VERBUND group which is Austria's leading energy company and one of the largest producers of electricity from hydropower in Europe. VERBUND group generates around 95 percent of its electricity from renewable sources, primarily hydropower. The group trades in electricity in 12 countries and, in 2022, achieved a consolidated result of around €1,700 million and EBITDA of around €3,160 million with around 3,500 employees. With subsidiaries and partners, VERBUND is active in everything from electricity generation and transport to international trading and sales. VERBUND has been listed on the Vienna Stock Exchange since 1988, 51% of the share capital is owned by the Republic of Austria.

VERBUND is the decisive player for the success of the energy turnaround in Austria. The challenges that lie ahead require a cohesive orientation of the entire company, which VERBUND is driving forward with Mission V. Mission V is a long-term and comprehensive transformation program and stands for the will to confront the climate crisis as a force for change. This program is based on the VERBUND Strategy 2030 with its three thrusts: Strengthening the integrated home market, expanding renewable energies in Europe and establishing itself as a European hydrogen player. With Mission V, VERBUND is accelerating the achievement of its strategic goals 2030 and ensuring their implementation.

More information: 

For more information please visit: http://www.verbund.com and connect:  VERBUND AG: Übersicht | LinkedIn

This material is distributed by Daniel J. Edelman, Inc. on behalf of Masdar. Additional information is available at the Department of Justice, Washington, DC.

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