Fisterra Energy, Enagás and White Summit Capital Launch a Green Hydrogen Generation Project in the Bay of Algeciras

  • This initiative will contribute to decarbonising industry, energy generation and mobility in the area, promoting long-term employment
  • The project enables Andalusia to take advantage of its vast renewable resources available for green hydrogen production

Algeciras, 21st June 2021. Fisterra Energy, Enagás and White Summit Capital have put forward a project for a green hydrogen production plant in the Bay of Algeciras, Spain, with an installed capacity of 237 MW. This facility will supply green hydrogen to local industry, including large consumers of hydrogen and natural gas.

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Nortegas Inaugurates Bond Markets with Successful €550m 10yr Bond Issuance

WSC is pleased to announce that NorteGas has successfully issued a €550m 10-year bond, which was launched in parallel to a tender offer for the outstanding 2022 bonds.

NorteGas was one of the first corporates to inaugurate the bond market in 2021 and demand was strong. The bonds ended up almost 6x oversubscribed, with a final coupon of 0.905%.

This a clear sign that the market is very supportive of Nortegas’ credit, which underpins the investor community’s belief in the strategic role of gas infrastructure within energy transition.

This refinancing will allow NorteGas to continue pursuing its strategic plan, which has as its key pillars to promote decarbonisation and sustainability.

NorteGas is the second largest gas distribution company in Spain with 8,241 km of gas networks and over one million end-users, which it supplies with natural gas and LPG, in the Basque Country, as well as in Cantabria and Asturias.

White Summit Capital Solar Plant Structures Pioneering Mechanism to Export 280,000 Green Guarantees of Origin

La Isla, one of the largest solar photovoltaic installations in Europe at grid connection date, has structured a pioneering mechanism with ACT Commodities, the global leader in environmental commodity trading, to export 280,000 green guarantees of origin (green certificates).

Through this transaction la Isla affirms its commitment to the energy transition movement and becomes one of the leading renewable energy installations in Spain in terms of exported green guarantees of origin in 2020.

La Isla is part of White Summit Capital’s portfolio and has been operating since September 2019.

WSC to Sponsor Kaiku Rowing Club

WSC is proud to announce we have become a sponsor of Club Deportivo Remo Kaiku.

CDR Kaiku, which was founded in 1923, is one of the oldest rowing clubs in the country and an important pillar of the Bilbao community.

It currently has over 100 rowers and 54 technical professionals and competes in all categories and age groups.


White Summit Capital Launches a Pioneering Green Hydrogen Project (BENORHT2) in Collaboration with Castleton Commodities International, Bizkaia Energía, Nortegas and SENER

White Summit Capital, Castleton Commodities International LLC (CCI), Bizkaia Energía S.L., Nortegas and SENER are delighted to unveil the launch of BENORTH2, an ambitious 20MW green hydrogen project in the Basque Country, Spain.

The project – the first of its kind in Spain – will take advantage of the existing gas and electricity infrastructure adjacent to the Amorebieta CCGT power plant site, to develop a green hydrogen plant that will avoid over 12,000 tonnes of CO2 p.a. and help drive employment in the region by giving the Boroa site a future beyond conventional generation.

The utilization of existing infrastructure will be a key driver of the speed and cost competitiveness of the project.

Electricity from 100% renewable sources, through certificates of origin and green Power Purchase Agreements (PPAs), will be used to power an electrolyser and generate 1,500 tons of green hydrogen (H2)per year. One of the most exciting uses for the H2 will be blending it with natural gas and injecting it into Nortegas’ distribution network, which will allow gas-users to participate in the energy transition by reducing their CO2 footprint.

Other applications include using the green H2 to power the Amorebieta gas-fired Combined Cycle Gas Turbine (CCGT) plant to reduce its CO2 emissions, a H2 refuelling station on site for local fleets of hydrogen-powered heavy vehicles and supplying local industry needs, optional liquid H2 storage through chemical carrier, among others. Additionally, considering the site’s strategic location and competitive advantage in sourcing low-cost renewable energy, part of the excess H2 production could be exported or monetized through private green certificates in other European countries.

The project, which will commit an initial investment of €50 million, and developed through a digital twin model, is expected to reach a prompt start of operations by the end of 2022 due to the utilization of existing infrastructure. The intention is to scale-up the project to 200MW by 2030 with a total investment of €300 million.

The project is being developed and is expected to be majority owned by White Summit Capital (an infrastructure investor specialised in energy transition), and CCI (a global energy commodities firm and the majority owner of Bizkaia Energía), in collaboration with three industrial partners as shareholders: Nortegas (the 2nd largest gas distribution company in Spain), Bizkaia Energía (direct owner of the Amorebieta CCGT plant) and SENER (a leading Spanish engineering and technology group). The investment reflects the partners’ commitment to reducing emissions and promoting sustainability.

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