Iberdrola, Petronor, Mercedes Vitoria and Irizar have received a combined €1.05 billion in European funding for projects in the Basque Country, cronicavasca.elespanol.com reported on 28 October 2026. Crónica Vasca puts the four companies’ combined funding at €1.05 billion, close to a quarter of the approximately €4.7 billion it says the Basque Country received over the period.
Crónica Vasca says Iberdrola received around €400 million through various companies, including nearly €50 million for its network subsidiary I-de. Crónica Vasca says Petronor received €160 million for a 100 MW electrolyser project. Together, the two companies received more than €550 million, including funding linked to a separate 10 MW electrolyser, the outlet reported, citing documentation submitted to the Basque Parliament by Mikel Torres.
In the vehicle sector, Crónica Vasca says Mercedes Vitoria was allocated €280 million to expand its facilities for a new van model. Irizar received more than €200 million related to new battery- and hydrogen-powered buses, according to the same account.
Grant acceptance and investment
El Correo says Petronor aims to use the hydrogen at its facilities, sell it to other industries and develop its synthetic-fuel initiative. The Basque Hydrogen Corridor’s account of the project said its output was intended for large industrial consumers around the Port of Bilbao and nearby areas.
Petronor accepted its grant and began administrative procedures with the Spanish government, El Correo reported in October 2024. At the time, the outlet said Repsol had kept the investment on hold in response to Spain’s 2022 tax on energy companies. Company sources told El Correo that accepting the grant did not change Repsol’s position on the investment.
The October 2026 account said the 100 MW electrolyser was expected to become operational toward the end of 2029.
