Beijing-based Hygreen Energy has announced plans for a major European expansion. This includes a €2bn ($2.2bn) investment and the construction of a 5GW alkaline electrolyser factory in Malaga, Spain. The factory will produce Hygreen’s 5MW alkaline electrolyser systems and comply with European standards.
Expanding Manufacturing Capacity and Developing Green Hydrogen Plants
Hygreen Energy, the international brand of Beijing SInoHy Energy Co., aims to become a leading player in the global electrolyser market. The company’s expansion plans involve:
- Building a 5GW alkaline electrolyser factory in Malaga, Spain
- Expanding its existing 2GW manufacturing capacity in Shandong, China, to 5GW by 2024
- Developing large-scale green hydrogen plants with strategic partners in Huelva, Spain
- Launching an R&D programme to advance electrolyser technologies and develop a 10MW alkaline system
The Malaga factory’s capacity will depend on Hygreen’s European growth and market demand. The company has not disclosed the expected start date or initial capacity of the facility.
Capitalizing on Europe’s Growing Hydrogen Market
Hygreen Energy’s CEO, Benny Wang, stated that the company’s investments in Spain will position it to capitalize on Europe’s rapidly growing hydrogen market. The firm’s plans go beyond its recent agreement with Coxabengoa, Voltan, and Kemtecnia. It aims to create a comprehensive ecosystem for its electrolyser customers, project developers, and EPC providers.
Spain has emerged as a hotspot for green hydrogen production in Europe. The country plans to build 11GW of electrolyser capacity by 2030. Spain is expected to supply significant volumes of green hydrogen to industrial regions in northwestern Europe.
Targeting International Markets
Hygreen Energy’s Global Marketing Director, Ethan Hugh, revealed that the company expects international markets to overtake domestic demand for its equipment by 2025. Countries in North America, Europe, and Australia have introduced policies and incentives that are driving demand for green hydrogen projects. This presents opportunities for Hygreen to expand its global presence.
As Hygreen Energy continues to invest in its manufacturing capacity and R&D capabilities, the company is well-positioned to play a significant role in the global transition to clean energy. It will also contribute to the development of the hydrogen economy.
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