Although Spain is currently showing economic growth, problems such as high unemployment are weakening the country.
(Photo: Reuters)
Madrid Sun, wind and enough space: Spain has everything it needs to become one of the most important producers of green hydrogen in the future. “The prospect of sufficiently cheap and renewable energy is an important location factor,” says Miguel Cardoso, chief economist for Spain at the major bank BBVA. “Spain has a major competitive advantage here.”
Compared to Chile or Australia, Spain also has the advantage of being able to send its hydrogen to the European industrial centers by pipeline. A new pipeline between Barcelona and Marseille is planned for this purpose.
Those are good prospects. And with the current growth forecasts, one might think that the boom would start soon. While Germany slipped into recession in the first quarter, Spain grew by 0.6 percent compared to the previous quarter. Institutes have repeatedly raised their forecasts in recent weeks.
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