Iberdrola shifts 500‑million euro green methanol plant to Huelva

Iberdrola and partner Foresa have moved their planned green‑methanol project, originally slated for Begonte in Lugo, to the province of Huelva. After completing basic engineering work and reassessing technical and economic results, the company concluded that relocating the plant was necessary to guarantee long‑term viability.

The $500 million investment, called Green Meiga, will receive €122.9 million in financing and is designed to produce up to 100 000 tonnes of renewable methanol each year. Construction is targeted to begin in the near term, with the facility expected to be operational by 2029. Around 6 000 jobs are projected during the construction phase and up to 426 positions – including permanent, temporary and induced roles – during operation. The consortium now includes Magnon, the renewable‑energy arm of Ence, alongside Iberdrola and Foresa. The plant was previously declared a strategic project by the Galician government before the relocation decision.