Spain strikes initial €10 billion green deal with Maersk

Pedro Sánchez flanked by Maersk executives Credit: La Moncloa flickr

SPAIN strikes initial €10 billion green deal with Maersk to supply energy to fuel its new fleet of vessels.

The Danish Company plans to introduce 20 new ships powered by green methanol starting in 2023/2024 and subsequently increasing the number of vessels so that by 2040 it is completely green.

In order to achieve this aim, Maersk needs to be able to ensure an increasing volume of suitable fuel and its top brass have been in discussion with the Spanish Government for several months over the possibility of Spain supplying part of the supply.

On November 3, Prime Minister, Pedro Sánchez met with the CEO of the AP Møller-Maersk Group, Søren Skou to announce that a deal had been struck thanks in part to Spain’s accessibility, availability of renewable energy and commitment to the Green Hydrogen strategy.

To this end therefore, the two parties have signed a General Protocol for Collaboration to explore the opportunities for large-scale green fuels production in Spain.

The intention is to create two new production plants, one in Andalucia and the other in Galicia and Sánchez said “This project is perfectly aligned with Spain’s strategy of reindustrialisation, fair energy transition and the green hydrogen roadmap, making progress in fulfilling the European Union’s common decarbonisation commitment.”

If all goes according to plan, the intention is to create around 85,000 jobs within Spain to supply around 10 per cent of the shipping company’s requirements with a total investment from the company and several national and international investors.

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