Iberdrola Partners with ABEL Energy for EUR 1.1 Bn Green Hydrogen Project in Australia

Dec 20, 2022 10:59 AM ET
  • The facility-- Bell Bay Powerfuels-- will certainly be based at Bell Bay in north Tasmania.
  • It will certainly be amongst the largest worldwide and will certainly produce 300,000 tonnes of green methanol for use as marine fuel.

Iberdrola Australia and hydrogen designer ABEL Energy have integrated to develop a green hydrogen as well as green methanol manufacturing plant at Bell Bay, Tasmania. The project-- Bell Bay Powerfuels-- is backed by the Australian government and will involve an investment of EUR 1.1 billion.

Iberdrola stated that Bell Bay Powerfuels will certainly produce 200,000 tonnes of green methanol each year in the initial phase, rising to 300,000 tonnes in second, making it among the biggest such projects worldwide.

The green methanol will certainly be used to supply the maritime market in addition to for other applications, mentioned the official statement by Iberdrola. From 2021, the world's leading delivery business are selecting large ships developed to operate on ultra-clean-burning green methanol.

The business believes that this choice has major advantages, such as getting rid of air pollution in ports, avoiding ecological disasters because of oil spills in marine environments, and minimizing greenhouse gas emissions presently produced by the use of nonrenewable fuel sources.

The construction of the future plant, which incorporates financial investment in renewable generation with investment in green hydrogen capacity, is qualified by a joint method to producing lasting value for the Tasmanian community, and also will rely upon the most effective innovation on the planet while producing 500 jobs. Of these, 200 straight and indirect jobs will be in your area recruited.

Ross Rolfe, Chief Executive Officer and Managing Director, Iberdrola Australia, said, "Iberdrola Australia's financial investment in the Bell Bay Powerfuels Project demonstrates our commitment to assisting Australian businesses lower their carbon emissions in fields where historically, both practically and also economically, it has been harder to make this change. We are delighted to be able to incorporate Iberdrola's worldwide knowledge in green hydrogen technologies with ABEL Energy's regional knowledge and commercial drive."

Michael van Baarle, Co-Founder and CEO, ABEL Energy, commented, "Along with Iberdrola, we anticipate driving green hydrogen to commercial scale in Australia as well as developing a new climate innovation industry that will certainly benefit the Tamar Valley community and also its future generations. We are delighted to have the support of Iberdrola as a financial partner and also as a professional in building and running large-scale renewable resource in Australia as well as all over the world."

Iberdrola's hydrogen efforts

Iberdrola is establishing 60 renewable and also green H2 campaigns in 8 various nations. Its goal is to get to 35,000 tonnes of hydrogen annually by 2025 and also greater than 350,000 tonnes each year by 2030.

To this end, it has actually produced a project portfolio of 2,400 MW in various areas, mainly in Spain, the USA and also Australia.

Iberdrola said that it will certainly likewise spend in between 2,000 as well as 3,000 million euros in Australia with the objective of enhancing the switch to renewables in the nation and also getting to 4,000 MW in the coming years.

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