Company cites unfavorable regulatory environment as a key factor in its decision.
Source Reuters
Repsol has suspended three green hydrogen projects in Spain due to a challenging regulatory environment, Reuters news service reported on Oct. 21.
The projects have a total electrolysis capacity of 350 megawatts (MW), Reuters reported.
The company had previously warned in a 2023 earnings release energy taxes that were designed to be temporary was punishing companies like Repsol that are investing in energy projects.
As Reuters noted, Repsol’s move could impact the Spanish government’s goal of generating 12 gigawatts of green hydrogen production capacity by the end of the decade.
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