Bell Bay Powerfuels has signed a term sheet with Hydro Tasmania for the sale of a decommissioned power station that is set to serve as the site for a A$1.2bn ($790m) green hydrogen and green methanol production facility in Tasmania, Australia.
The Bell Bay Powerfuels project, currently under development by its Australian parent company ABEL Energy, with financial and project support from Iberdrola Australia, plans to establish 240MW of electrolysis to generate green hydrogen for the onsite production of green methanol.
Expected to produce 300,000 tonnes of green methanol annually once commercial operations commence – expected in 2027, the renewable assets required to produce the fuel will be developed by Iberdrola.
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