Moeve has reported robust nine‑month 2026 results, underpinned by record capital investment and major advances in second‑generation biofuels and renewable hydrogen projects.
Clean CCS EBITDA reached €2,409 million, supported by stronger refining margins, increased utilisation and higher production of key transport fuels including diesel and kerosene, helping to ease supply pressures amid geopolitical disruption.
A central driver of Moeve’s performance was its expanding portfolio of clean energy projects. Energy transition capex rose to €612 million, accounting for 69% of total investment – a sharp increase from 52% in the same period of 2025. The company’s total capex reached a record €885m, with 93% invested in Spain.
A major milestone was the start of construction of the Andalusian Green Hydrogen Valley, Europe’s largest green hydrogen initiative. The first phase, Onuba, will deliver 300 MW of electrolysis capacity and forms part of Moeve’s wider €2.4 billion commitment to green hydrogen and second‑generation biofuels.
Moeve also advanced several biofuel‑focused partnerships. The company signed an agreement with Emerita Resources to supply 100% renewable diesel to the Iberian Belt West mining project, cutting emissions by an estimated 2,600 tonnes of CO₂ annually. In addition, its Chemicals division became the world’s first to be audited under ISCC Carbon Footprint Certification for biomethane‑based production.
Operating cash flow reached €1,689 million, while net debt fell to €2.1 billion, reducing the Net Debt to EBITDA ratio to 0.8x. The company also contributed €3,566 million in taxes in Spain during the period.
CEO Maarten Wetselaar said Moeve’s strong financial performance is enabling record investment in Spain’s clean energy system: “We are preparing for the energy system of the future while ensuring supply security today.”
Moeve continues to execute its Positive Motion strategy, positioning biofuels and green molecules at the centre of its transformation.
