RIC Energy and Siemens have signed a Memorandum of Understanding to jointly develop renewable hydrogen, green ammonia and e-fuels projects in Spain. The partnership will focus particularly on advancing the Compostilla Green project in Cubillos del Sil (León), a sustainable aviation fuel (e-SAF) plant led by RIC Energy. The initiative was recently named the top-rated project under Spain’s Hydrogen Valleys program by the Institute for the Diversification and Saving of Energy (IDAE).

The agreement involves several entities from the Siemens Group, including Siemens S.A., Siemens Industry Software, Siemens Financial Services and Siemens Innovation Strategies. The collaboration will encompass technical and financial cooperation, with plans to develop joint solutions and explore structured financing mechanisms to support these renewable energy initiatives.

Key areas of focus will include enhancing operational efficiency, driving decarbonization, ensuring industrial safety and advancing the digitalization of infrastructure. In addition to strengthening the Compostilla Green project, the agreement extends to the Besaya project in Torrelavega (Cantabria), another major RIC Energy-led effort aimed at scaling up industrial production of sustainable fuels.

The two companies also plan to work together on a joint communication strategy that will highlight the socio-economic benefits of their projects, emphasizing their role in promoting energy transition and regional reindustrialization.

“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,” said José Luis Moya, CEO of RIC Energy.

Fernando Silva, CEO of Siemens Spain, added, “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.”

As part of the next steps, RIC Energy and Siemens plan to coordinate efforts to establish vertically integrated consortiums that will facilitate the implementation of these energy projects. The alliance is expected to play a vital role in Spain’s broader decarbonization and clean energy efforts, reinforcing the country's leadership in green innovation and renewable fuel development.

The collaboration underscores the growing momentum behind renewable hydrogen and e-fuels as essential components of a low-carbon future, with far-reaching implications for energy security, economic development and environmental sustainability.

RIC Energy is an independent, multinational group recognized as a leading developer of renewable energy projects utilizing multiple technologies. Focused on strengthening its role as a selective Independent Power Producer (IPP) in established technologies and markets, the company operates on four continents and manages a development and construction portfolio of over 15 GW.