Renewable methanol plan wins $500k in state backing
Renew Economy feature HAMR Energy
The vision of Portland, Victoria becoming a leading green methanol facility is gaining momentum, thanks to a substantial boost from the Victoria government's $500,000 investment in a feasibility study. HAMR Energy envisions Portland as a flagship renewable methanol facility, contributing to a proposed bunkering and storage hub at the Port of Melbourne. Anticipating an annual output of 200,000 tonnes of green methanol, the project carries an estimated cost of $700-950 million. The feasibility study aims to establish a plant converting plantation forestry residue into green methanol, featuring a 100 MW hydrogen electrolyser. This initiative holds the potential to significantly reduce emissions in the maritime industry, offering a sustainable solution for the future. With increasing demand for green methanol, HAMR Energy aims to commence production by 2027, with an ambitious target of producing 1 million tonnes by 2030. The project is one of approximately 80 renewable methanol initiatives in development globally, reflecting the industry's collective commitment to sustainable fuel alternatives.
