12/05/2025

MIBGAS Derivatives, the operator of the Iberian gas futures market, and DH2 Energy, a developer and producer of green hydrogen[1], celebrate the positive results of the first auction for the purchase of renewable hydrogen on the Iberian market, organised jointly by both parties.

This pioneering initiative, launched in November 2024, has been successfully completed and has been a great learning experience for both parties.

DH2 Energy, one of the major developers of renewable hydrogen, reinforces its position in the sector with the completion of this process.

On the other hand, for MIBGAS, this experience will allow it to integrate this mechanism into its portfolio of energy auction services in the future.

The process involved auctioning the purchase of renewable hydrogen from the Hysencia plant, with 35 MW of electrolysis capacity, located in Aragon. The auction was open to all companies interested in purchasing renewable hydrogen. Different lots were offered, depending on the supply, volume and contract duration, starting from a base price for each lot.

The outcome is very positive, as the initial objectives have been achieved: to identify potential offtakers that had not been contacted previously and to obtain proposals for the purchase of hydrogen above the minimum parameters established. In this regard, several non-binding offers have been received for different lots, with significant volumes and prices.

DH2 Energy is currently in bilateral negotiations for binding hydrogen purchase agreements (HPAs) with the companies that submitted bids, as planned in the process. This phase, which is now outside the framework of the auction process supervised and managed directly by MIBGAS, is expected to last for approximately the next three months.

‘We are very satisfied with the results of this first renewable hydrogen auction in the Iberian market. We have received bids for the production of our Hysencia plant, mainly from offtakers that have emerged and that we had not previously identified. We are confident that we will sign binding agreements with them in the coming months,’ said Marcos López-Brea Baquero, managing director of DH2 Energy.

For MIBGAS, this process has also been very productive, and it hopes to replicate it soon and integrate it into its portfolio.

“The auction has attracted considerable interest, and we have received enquiries from other H2 producers interested in developing similar processes in their projects,” said Raúl Santamaría, managing director of MIBGAS.

The Hysencia plant, with 35 MW of electrolysis capacity, 49 MWp of photovoltaic power and 10 MW of grid support, is a pioneering initiative that won the first European auction, which is financed by the Innovation Fund, within the framework of the European Hydrogen Bank. Hysencia, which obtained integrated environmental authorisation last year, is one of the first commercial green hydrogen projects on the Iberian Peninsula. The renewable hydrogen produced by Hysencia will contribute to decarbonising the industry and mobility sectors.

[1] Hydrogen that meets the requirements for renewable fuels of non-biological origin (RFNBO – Renewable Fuels of Non-Biological Origin).