HyFive to build a hydrogen and methanol plant in Asturias with an initial electrolysis capacity of 50 MW.

HyFive, a subsidiary of Bilbao-based White Summit Capital, is to invest 250 million euros in the construction of a green hydrogen and methanol production plant in the port of El Musel, due to be operational in 2027.

The project will be located on a 41 hectare site on the Aboño esplanade of the port. According to the forecasts of the development company, construction works are scheduled to begin in the third quarter of 2025, and the plant should start commercial operations in 2027. In the first phase , the facility will have a 50 megawatt (MW) electrolysis capacity for the production of green hydrogen, which will be used to power an e-methanol plant with an annual production capacity of 100,000 tonnes, though the idea is to double this capacity to 100 MW.

The aim of Musel GreenMet is to form part of the local ecosystem, creating a green fuel valley in Asturias that generates synergies with the surrounding industry and moves towards a model of decarbonisation on a regional scale. Not only will the plant be located in a strategic area such as the port of Gijón, but it will also consume green hydrogen produced both by the project itself and by other initiatives currently being taken forward in the surrounding area.

The project is supported by the 'H2 Pioneers' programme, awarded by the Spanish State company IDAE, an organisation attached to the Ministry for Ecological Transition, and funded by EU NextGeneration funds. The initiative will generate up to 500 jobs during the construction phase and, once the plant is operational, more than 40 direct and 120 indirect jobs.

Press release available here.

Source: Crónica Vasca