According to local reports from Valencia Noticias, the president of the Shanghai Shaanyao Group, Roger Dejun, revealed the new partnership at the third National Green Hydrogen Congress in Huelva.

The Chinese industrial developer will join the projects with compatriot clean technology company Eontsing to provide technological capabilities alongside MASPV’s local energy sector expertise.

In meetings relating to the operations planned for 2026, Dejun hailed Spain’s regulatory framework, industrial capacity, and institutional commitment as offering great conditions for green hydrogen production.

“Through MASPV, we have been able to analyse specific and advanced projects, allowing us to evaluate investment opportunities with a clear, long-term vision”, Dejun said.

Beyond the €1bn ($1.4bn) investment, details such as planned project locations, outputs, and timelines remain unclear.

MASPV is a Madrid-based solar energy developer which claims a worldwide capacity of over 500MW.

The company’s CEO, Ángel Luis Serrano, said that the new partnership will build a solid industry platform for integrating development, technology, and financial capacity for projects in the Spanish market.

This comes as Spain increasingly emerges as a hub for green energy projects with its geostrategic location, positioning it well for exploiting wind and solar energy.

In 2024, the Spanish government unveiled plans to see green hydrogen meet 74% of its industrial hydrogen demand by 2030 and treble its installed electrolyser capacity target to 12GW.

Spain has also been more welcoming to Chinese green hydrogen expertise than other EU nations, which have raised concerns about losing industrial sovereignty.

Both Hygreen Energy and Envision have announced plans to set up several gigawatts of electrolyser manufacturing in Spain’s Andalusia region, along with associated project developments.