Iberdrola, Trammo Partner for Green Ammonia Plant in Europe
June 09 2023 - 04:31AM
Dow Jones News
By Giulia Petroni
Iberdrola has signed a framework agreement with seaborne ammonia
trader Trammo to build a green ammonia plant in southern
Europe.
The Spanish energy group said Friday that Trammo will purchase
and sell up to 100,000 tons of green ammonia, which is produced
using renewable energy, a year from the plant starting in 2026.
The plant involves a total investment of 750 million euros
($805.8 million) that will be viable through European Union
funding.
"This project aims to kickstart the European green hydrogen
corridor. Southern Europe has a large renewable potential that
allows it to supply competitive green energy to decarbonize the
various energy-intensive heavy industry all across the continent
such as the Netherlands, Germany or France," Iberdrola said.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
June 09, 2023 04:16 ET (08:16 GMT)
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