Headlines
Repsol cuts green hydrogen target by as much as 63%
Published by Global Banking & Finance Review®
Posted on February 20, 2025
1 min readLast updated: January 26, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on February 20, 2025
1 min readLast updated: January 26, 2026
Repsol has cut its 2030 green hydrogen production target by up to 63%, citing high costs and market delays. The new target is 0.7-1.2 GW of capacity.
MADRID (Reuters) - Spanish energy company Repsol cut its 2030 target for green hydrogen production by up to 63%, Chief Executive Josu Jon Imaz said on Thursday, highlighting the challenges of a high-cost industry heavily reliant on subsidies.
Repsol now expects to achieve between 0.7 gigawatts (GW) and 1.2 GW of electrolyser capacity by the end of the decade, down from a previous 1.9 GW target, Imaz told analysts as he presented results for the year.
This is due to delays in the development of the market and the regulatory framework, among other reasons, he said.
"We are prioritising return and prudence in the capital allocation over any capacity target," he said.
Green hydrogen is produced using renewable energy and is seen as key to decarbonise Europe's economy in the future. However, given its cost, green hydrogen projects in general are not competitive without subsidies.
(Reporting by Pietro Lombardi; Editing by Inti Landauro and Richard Chang)
Repsol now expects to achieve between 0.7 gigawatts (GW) and 1.2 GW of electrolyser capacity by the end of the decade, down from a previous target of 1.9 GW.
The reduction in Repsol's green hydrogen target is due to delays in the development of the market and the regulatory framework, among other reasons.
Repsol is prioritizing return and prudence in capital allocation over any capacity target, according to Chief Executive Josu Jon Imaz.
Green hydrogen is produced using renewable energy and is seen as key to decarbonizing Europe's economy in the future, although its cost currently makes it less competitive.
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