{"id":1086,"date":"2022-12-29T10:47:55","date_gmt":"2022-12-29T02:47:55","guid":{"rendered":"http:\/\/www.hajomech.com\/iberdrola-plans-to-invest-1-1b-in-green-methanol-plant-in-tasmania\/"},"modified":"2022-12-29T10:47:55","modified_gmt":"2022-12-29T02:47:55","slug":"iberdrola-plans-to-invest-1-1b-in-green-methanol-plant-in-tasmania","status":"publish","type":"post","link":"http:\/\/www.hajomech.com\/iberdrola-plans-to-invest-1-1b-in-green-methanol-plant-in-tasmania\/","title":{"rendered":"IBERDROLA PLANS TO INVEST $1.1B IN GREEN METHANOL PLANT IN TASMANIA"},"content":{"rendered":"
\n

Spanish energy company Iberdrola has joined a growing number of firms <\/p>\n

seeking opportunities in Australia\u2019s burgeoning hydrogen industry, and it has <\/p>\n

announced plans to invest more than $1.1 billion in a new green methanol <\/p>\n

plant.<\/p>\n

\"IBERDROLA<\/p>\n

Iberdrola has partnered with developer ABEL Energy to build a green <\/p>\n

hydrogen and green methanol production plant at Bell Bay in northern Tasmania, <\/p>\n

which will have a capacity to produce 300,000 tonnes of green methanol for use <\/p>\n

as marine fuel.<\/p>\n

<\/p>\n

The project, called Bell Bay Powerfuels, is backed by the Australian <\/p>\n

government and is designed to produce 200,000 tonnes of green methanol per year <\/p>\n

in its first phase of development. This would increase to 300,000 tonnes in its <\/p>\n

second phase, making it one of the largest projects of its kind in the world. <\/p>\n

The green methanol will be used to supply the maritime market, as well as other <\/p>\n

applications.<\/p>\n

<\/p>\n

Iberdrola\u2019s massive investment is informed by a growing trend in which <\/p>\n

leading shipping companies are opting for large ships designed to run on <\/p>\n

ultra-clean-burning green methanol, a zero-carbon alternative which would <\/p>\n

eliminate the greenhouse gas emissions generated by the use of fossil fuels.<\/p>\n

<\/p>\n

Australia has emerged as a big player in the hydrogen business. Since the <\/p>\n

release of the country\u2019s National Hydrogen Strategy in 2019, there is now an $85 <\/p>\n

billion pipeline of announced hydrogen investments. These include over 15 <\/p>\n

projects that have passed final investment decision and over 80 announced <\/p>\n

renewable hydrogen projects.<\/p>\n

<\/p>\n

A big player in renewable energy with an objective of exceeding 60,000 MW <\/p>\n

of renewable capacity by 2025, Iberdrola is developing 60 renewable and green H2 <\/p>\n

initiatives in eight different countries. It has acquired Infigen Energy, <\/p>\n

Australia\u2019s leading renewable energy company, and plans to invest between $2 <\/p>\n

billion and $3 billion in the country with the aim of reaching 4,000 MW of <\/p>\n

renewables capacity in the coming years. It is moving fast towards that goal: in <\/p>\n

the first half of this year, Iberdrola acquired the rights to the world\u2019s <\/p>\n

largest onshore wind farm at Mount James, with an installed capacity of 1,000 <\/p>\n

MW.<\/p>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"

Spanish energy company Iberdrola has joined a growing number of firms seeking opportunities in Australia\u2019s burgeoning hydrogen industry, and it has announced plans to invest more than $1.1 billion in a new green methanol plant.Iberdrola has partnered with developer ABEL Energy to build a green …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"hj_lang":[3],"class_list":["post-1086","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"http:\/\/www.hajomech.com\/wp-json\/wp\/v2\/posts\/1086","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.hajomech.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.hajomech.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.hajomech.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.hajomech.com\/wp-json\/wp\/v2\/comments?post=1086"}],"version-history":[{"count":0,"href":"http:\/\/www.hajomech.com\/wp-json\/wp\/v2\/posts\/1086\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.hajomech.com\/wp-json\/wp\/v2\/media?parent=1086"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.hajomech.com\/wp-json\/wp\/v2\/categories?post=1086"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.hajomech.com\/wp-json\/wp\/v2\/tags?post=1086"},{"taxonomy":"hj_lang","embeddable":true,"href":"http:\/\/www.hajomech.com\/wp-json\/wp\/v2\/hj_lang?post=1086"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}