Together, Iberdrola Australia and ABEL Energy, a producer of hydrogen, will construct a green methanol and hydrogen production facility near Bell Bay in northern Tasmania.
The Bell Bay Powerfuels Project will be one of the biggest of its kind in the world with Stage One’s 200,000 tonnes per year of green methanol. Stage Two will boost output to 300,000 tonnes annually.
A feasibility study and knowledge-sharing report on the Bell Bay Powerfuels Project, a proposed green hydrogen and methanol production facility, were conducted earlier this year by ABEL Energy with a hydrogen finance award from the Tasmanian Government.
The methanol and renewable energy project’s overall anticipated capital cost is in the range of A$1.7 billion (US$1.14 billion).
The project’s technical needs are being met by accessing resources from all over the world. When operations begin in 2026, it is anticipated that 50 local workers will be needed. Additionally, 150 indirect local employment are expected to be created. 500 workers will be employed throughout construction.
Ross Rolfe, CEO and Managing Director of Iberdrola Australia, said “Iberdrola Australia’s investment in the Bell Bay Powerfuels Project demonstrates our commitment to helping Australian enterprises reduce their carbon emissions in sectors which have, historically, been more technically and economically difficult to abate. We are delighted to be combining Iberdrola’s global expertise in green hydrogen technologies with ABEL Energy’s local knowledge and business momentum.”
“Iberdrola Australia was attracted to the Bell Bay Powerfuels Project because of its integrated nature – combining both renewable generation investments with green hydrogen capacity investment – and its collaborative approach to creating shared value for Tasmanian stakeholders over the long-term.”
Michael van Baarle, ABEL Energy Co-founder & CEO, said “We are delighted to have Iberdrola’s support as a financial and project partner given their significant capability and experience in constructing and operating large-scale renewable energy projects in Australia and around the world.”
“Together we can harness Tasmania’s excellent hydro and wind resources to produce hydrogen via electrolysis of water, and then use that hydrogen to produce green methanol for the burgeoning green maritime fuel market and other applications.”
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