Asia Tech Wire (Sep 10) -- China's Envision Energy plans to develop a $1 billion green hydrogen industrial park in Spain, according to Bloomberg.

Spanish Prime Minister Pedro Sánchez is due to sign a memorandum of understanding about the park in China, the report said.

Sánchez, who is on an official visit to China from September 8 to 11, attended the Spain-China Business Forum in Shanghai on Tuesday morning.

People familiar with the matter said said the industrial park will produce electrolyzers, machines that strip hydrogen from water using electricity.

Envision Energy and its partners will work with the Spanish government to select a site for the park, with the goal of starting construction in the first half of 2026.