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Green hydrogen production fuels Moeve’s profit boom as Iberian downstream reshapes
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Hydrogen Fuel News
Investing in HydrogenMoeve’s first-half results show net profit of €641 million and adjusted profit of €458 million as it ramps up green hydrogen production in its Andalusian valley project.
Concurrent talks with Galp to form IndustrialCo and RetailCo promise scaled hydrogen infrastructure and industrial decarbonization across Iberia.
So, what happens when an established oil giant not only triples its profits but also shifts gears towards green hydrogen?
Recently, this Spanish energy juggernaut released half-year results that really caught everyone’s attention: a net profit of €641 million and an adjusted profit of €458 million, marking a whopping 41% jump from the previous year.
And here’s the kicker—they're investing heavily in green hydrogen projects and advanced biofuels at the same time!