Hyfive to invest 250 million euros in new green hydrogen and methanol plant in Gijón

It will generate five hundred jobs in its construction and forty for its operation.

The green hydrogen and derivatives platform Hyfive, owned by White Summit Capital (WSC), will build a green hydrogen and methanol production plant in the port of El Musel, in Gijón (Asturias). The Swiss investor, specialised in energy transition infrastructures, plans to spend 250 million euros for the commissioning of this facility.

The plant, presented under the name Musel GreenMet, will occupy a 41-hectare site. Work will begin in the third quarter of 2025 with the aim of starting commercial operations in 2027. In its first phase of operation, it will have a total capacity of 50 megawatts for the production of green hydrogen. This fuel will in turn feed a green methanol plant with an annual capacity of 100,000 tonnes.

Environmental projects
In a future second phase the company plans to double the electrolyser's capacity to 100 megawatts. In addition to the green hydrogen that will be produced at the new facility, the plant will consume surplus hydrogen from other projects currently under development in the surrounding area. As fuel, it will also use carbon dioxide captured from nearby industries that have a more difficult transition to electrification, or  renewable fuels.

The project will generate around 500 jobs during construction. Once operational, the plant will employ around 40 people directly, and is expected to create a further 120 indirect jobs. Musel GreenMet has already received support from the H2 Pioneers programme, awarded by the IDAE and funded by the European Union's NextGenerationEU programme.

Green fuel valley
Hyfive's goal is to create a green fuel valley in Asturias which generates synergies between the surrounding industries. In general, its project portfolio focuses on areas where the EU wants to accelerate decarbonisation and is implementing binding regulations. In terms of industries, it covers green fuels, heavy transport and energy-intensive industrial applications such as cement, steel, chemicals and ceramics.

HyFive's CEO Alberto Sanchez de Rojas believes that Musel GreenMet "will be instrumental in integrating large-scale hydrogen production, CO2 capture from multiple nearby industries, green fuel production, as well as infrastructure to enable storage, transport, consumption and exports". Regarding the location, he describes it as ideal, "And the area has potential for future growth as industries intensify their decarbonisation efforts and the hydrogen transport infrastructure from the H2Med pipeline also reaches the port".

Gonzalo López Medina, Managing Partner of White Summit Capital, explains, "An ambitious project like this requires the diverse financial, technical and management expertise and capabilities that WSC and HyFive bring together. It also requires a real willingness and spirit of partnership with local authorities, the industry and citizens."

Photo: Hyfive