Bell Bay Powerfuels: Iberdrola Australia invests 1.1 billion euros in a green fuels plant in Australia
December 19, 2022
Iberdrola has already been involved for some years in the Australian market of renewable energy sources and intends to invest another 2-3 billion euros with the aim of reaching 4,000 MW in the next few years. In addition to the production of energy, it also deals with its transport since the electricity grids are vastly undersized compared to the wind and solar potential.
Now it extends its horizon to the Power to fuels sector with the production of green fuels. In fact, Iberdrola Australia, in collaboration with ABEL Energy, will build a green hydrogen and methanol production plant in Bell Bay (Tasmania) by investing 1.1 billion euros.
The plant will be one of the largest in the world, producing 300,000 tons of green methanol which will mainly be destined for the naval sector.
Iberdrola is very active in the production of green hydrogen. In fact, it is developing dozens of initiatives in different countries, mainly Spain, the United States and Australia. The goal is an annual production of over 350,000 tons of green hydrogen by 2030.