8/14/2023 0 Comments One hype girl![]() ![]() Iberdrola is funding the development costs for what would be one of the world's largest green methanol facilities.īut before any FID on the project is likely, several other dominoes have to fall into place. Spanish major utility Iberdrola (IBE.MC) has joined a hydrogen/methanol project with local company ABEL Energy to develop a A$1.2-billion ($810-million), 300,000-metric-tonnes-a- year methanol plant. Since the wood would be from plantations, it would still be deemed renewable as new trees are grown to replace those used to make the methanol. Methanol in Tasmania would be made from combining green hydrogen with wood waste or wood chips. ![]() Methanol is shaping up as having the best potential for Tasmanian hydrogen projects, since it can be used to decarbonise shipping, one of the sectors deemed hardest to shift away from fossil fuels. It is also becoming clear that hydrogen only really works as a gas if used locally, and for it to be viable as an export fuel, it has to be transformed into methanol or ammonia. The problem for developing the industry is lining up all the dominoes needed for success, and then getting them to fall into place in order.Īnother factor that several conference participants identified as vital is that the projects must have customers signed up before FIDs are made. Tasmania is viewed as an ideal location for large-scale green hydrogen production, given the availability of clean hydropower, the potential for major offshore wind power, and a deepwater port and industrial land at Bell Bay on its north coast. Several of the planned projects are progressing towards final investment decisions (FIDs), including what would be Australia's largest offshore wind farm, a new transmission line linking Tasmania to the mainland and a 300,000-metric-tonnes-a-year hydrogen-to-methanol plant. This creeping realism was the main theme at last week's Tasmanian Energy Development Conference, held in the coastal city of Devonport, near the hydropower, wind farm and electrolyser projects planned for the new hydrogen industry. LAUNCESTON, Australia, June 13 (Reuters) - Hydrogen has been hyped as offering perhaps the greatest hope of a renewable energy to replace fossil fuels, and Australia's island state of Tasmania is lauded as one of the best places to develop the new industry.īoth statements are still valid, but it is becoming increasingly obvious that the scale, and cost, of building a new renewable industry largely from scratch is immense, and will take longer than initially hoped. ![]()
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