German technology conglomerate Siemens and Spanish renewable energy company RIC Energy have signed a memorandum of understanding (MoU) to jointly develop innovative projects in the fields of renewable hydrogen, green ammonia, and e-fuels in Spain.
The agreement, which includes the participation of Siemens Group entities: Siemens S.A., Siemens Industry Software, Siemens Financial Services, and Siemens Innovation Strategies, is said to foresee cooperation in both technical and financial aspects, including the potential development of joint solutions and the exploration of structured financing mechanisms for the projects.
As disclosed, key areas to be addressed include operational efficiency, process decarbonization, industrial safety, and the advanced digitalization of infrastructures.
The two companies are also expected to work together on a joint communication strategy to highlight the socio-economic impact of their initiatives on the energy transition and the reindustrialization of the regions involved.
José Luis Moya, CEO of RIC Energy, stated: “The signing of this agreement consolidates an excellent relationship between Siemens and RIC Energy, which began several months ago and opens up new opportunities to accelerate the deployment of transformative projects in the field of hydrogen and its derivatives.”
Fernando Silva, CEO of Siemens Spain, remarked: “This agreement reflects Siemens’ commitment to the decarbonization process, paving the way for a more sustainable society and supporting industrial initiatives such as RIC Energy’s, which position Spain as a benchmark in the production of sustainable fuels.”
Both companies will continue to coordinate next steps, also with the aim of establishing vertically integrated consortium schemes to facilitate the execution of the various projects, RIC noted.
To note, in the past year, Siemens entered multiple energy partnerships, including with Metacon, a Swedish manufacturer of energy systems for green hydrogen production, Advent Technologies, a wholly-owned subsidiary of U.S. Advent Technologies Holdings, and the German company HH2E.
Furthermore, the company secured the front-end engineering design (FEED) contract for the La Robla Green project, a large e-methanol plant in the Spanish province of León, as well as an electrolysis system supply contract for a large-scale Clean Hydrogen Coastline project in Germany’s Emden.