Hydnum Steel makes progress in plans to build a green steel plant

Spain’s Hydnum Steel (HS) says it is making progress on its plan to build the first green steel plant in the Iberian Peninsula. This is reported by Kallanish.

The project involves Helvella, Siemens, ABEI Energy and Russula Corporation. The production is planned to be located in Puertoiano (Castilla-La Mancha region).

According to HS, a priority project application for the construction of the plant was submitted to the regional government. The procedure confirms the justification of its social and economic interest at the regional level, as well as its public utility and strategic nature.

Recognition of the project as a priority guarantees a preferential administrative procedure and accelerated implementation, especially in matters of land and urban planning. Among other benefits, it provides for economic and financial incentives.

The plant is designed to use non-fossil energy throughout the production process and to gradually introduce green hydrogen into the process to significantly reduce carbon emissions.

According to the Spanish newspaper La Comarca de Puertollano, Hydnum Steel will create more than 1,100 direct jobs, about half of them in the first and second phases of the project. The plant will start operating in 2026, with investments of more than €1.65 million. Its initial production capacity is planned at 1.5 million tons of hot-rolled coils per year, and it will increase to 2.6 million tons in 2030.

As GMK Center reported earlier, Sweden’s H2 Green Steel has signed definitive debt financing agreements worth €4.2 billion to finance its green steel project. The startup has also increased its previously announced equity raise by €300 million and received a €250 million grant from the EU’s Innovation Fund.