Bell Bay green hydrogen and green methanol megafacility gets green light
Iberdrola Australia and hydrogen developer ABEL Energy announced that they will be working together to deliver a green hydrogen and green methanol production facility at Bell Bay, in northern Tasmania.
The proposed green hydrogen and methanol production facility, known as the Bell Bay Powerfuels Project, was the subject of a A$1.3 million feasibility study and Knowledge-Sharing Report completed earlier this year by ABEL Energy with a A$555,000 hydrogen funding grant from the Tasmanian Government.
The total estimated capital requirement for the methanol and renewable energy project is in the order of A$1.7 billion.
The scale of the Bell Bay Powerfuels Project, at 200,000 tonnes per year of green methanol for Stage One, will make it one of the largest such projects in the world. Stage Two will increase capacity to 300,000 tonnes per year.
The technology required to design and build the project is being accessed from around the world. It is estimated operations will require 50 local employees upon commencement in 2026 and generate a further 150 indirect local jobs. Construction will employ around 500 people.