North Queensland is ideally suited to green hydrogen and methanol production with renewable solar, wind and biomass resources.
ABEL Energy is accelerating plans for it’s second project, Townsville Powerfuels with the potential construction of a $1.7 billion methanol manufacturing plant. Land is being negotiated in Townsville for a development site, to produce 300,000 tonnes per annum of green methanol.
The Townsville project seeks to replicate the company’s flagship project, Bell Bay Powerfuels in Tasmania. The Townsville Project is anticipated to have a final investment decision by 2030, with operations commencing in 2032.
$1.5+ Billion investment to Northern Queensland
Enabling up to 700MW of new build renewable power
Construction opportunities for 500+ workers
Direct and indirect employment for 300+ workers for at least 30 years
Gross regional impact of more than $4 Billion
Abatement of 540,000 tonnes per year of CO2
Local renewable fuel uptake opportunities (ports, rail, ferries, etc)