Spanish oil refiner Cepsa could observe bigger rival Repsol and curb inexperienced hydrogen investments at dwelling as the federal government appears at taxation adjustments.
“Cepsa is evaluating the fiscal impression of doable approval of a brand new everlasting tax in Spain,” the corporate mentioned by e mail. If the tax is accepted, Cepsa will “gradual the inexperienced hydrogen investments it had deliberate in Spain and prioritize its worldwide enlargement.”
It will be yet one more blow for the gasoline seen as important to assist curb emissions. Repsol mentioned earlier this week it’s shelving spending in Spain for now, whereas Finland’s Neste Oyj is placing a venture in Finland on maintain as nationwide laws doesn’t totally assist constructing a large-scale facility.
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Exterior Spain, Cepsa already has inexperienced hydrogen initiatives within the US, Brazil, Morocco and Algeria.
BP Plc additionally operates an oil refinery in Spain, the place it’s planning to construct a inexperienced hydrogen electrolyzer. BP didn’t reply to requests for touch upon the Castellon venture.
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