The headquarters of the Government of Aragon hosted the presentation of the Monzón Natural Hydrogen project, which would involve an investment of 900 million euros over 20 years. Our President and Vice President and Minister of Industry, Competitiveness and Business Development, Arturo Aliaga, presented the Monzón Natural Hydrogen project, together with the CEO of Helios, Ian Munro, the CEO of Font Corporation, Carmen Font, our Vice President and General Director of Industry and SMEs, Javier Navarro and the Managing Director of the Foundation Fernando Palacín. María García Camprubí from ITAINNOVA, Aragon’s scientific coordinator of the Complementary Plan for Renewable Energy and Hydrogen, also took part in the event.
The discovery of a gas pocket in the Serrablo region was already a turning point that led to a key event, as it became a fundamental gas reserve in Spain. In addition to this discovery, the production of renewable energies to produce green hydrogen has been added. The Helios project has definite strengths and would position Aragon as an employment leader in Europe in a highly specialised sector. Helios plans to produce natural hydrogen that was discovered by drilling near the town of Monzón in the 1960s. The first well will be drilled in 2024 with an investment of 12 million euros and the total project investment is estimated at 900 million euros in the production phase, which will last 20 to 30 years from 2028. Once the hydrogen reserve has been depleted, phase 2 of the project will start with the safe storage of green hydrogen. The Company has also identified several similar structures near the Monsoon Field that are expected to contain commercial volumes.
Within the Renewable Energy and Hydrogen Supplementary Plan mentioned above, the Foundation participates in Action Line 6 (Development of systems for pressurised storage and supply of green hydrogen) and Action Line 1 (Generation of low-temperature green hydrogen from renewable energy).