Iberdrola Australia and hydrogen developer ABEL Energy have disclosed plans to build a green hydrogen and green methanol production plant at Bell Bay in northern Tasmania, an island state of Australia.
The project, known as Bell Bay Powerfuels, is backed by the Australian government and will involve an investment of €1.1 billion ($1.2 billion).
Bell Bay Powerfuels will produce 200,000 tonnes of green methanol per year in its first phase of development, rising to 300,000 tonnes in its second phase. This will make the project one of the largest in the world. The green methanol will be used to supply the maritime market as well as other applications.
“Iberdrola Australia’s investment in the Bell Bay Powerfuels Project demonstrates our commitment to helping Australian businesses reduce their carbon emissions in sectors where historically, both technically and economically, it has been more difficult to make this transition,” said Ross Rolfe, CEO and managing
