Green Meiga

E-Methanol GREEN MEIGA Project

In December 2023, IBERDROLA and FORESA signed a Grant Agreement with the European Climate, Infrastructure, and Environment Executive Agency (CINEA). The amount of this Innovation Fund grant totalled €122.9 Million, which constitutes a fundamental step for the development of this large-scale green methanol project in Spain.

Ongoing project

E-Methanol GREEN MEIGA Project

Location Begonte (Galicia)
Total installed capacity 151 MW of electrolysis
Start of operations 2027
Job vacancies 6,000 (construction phase)

Green Methanol

Green methanol is methanol that has been produced renewably and without polluting emissions, one of its variants being generated from green hydrogen. This chemical compound can be used as a low-carbon liquid fuel and is a promising alternative to fossil fuels in areas where decarbonisation is a major challenge, such as the chemical industry (as a low carbon footprint raw material) and maritime transport.

Green Methanol only uses renewable energy sources in its production process, ensuring that no harmful gases are emitted into the atmosphere. Thus, green methanol is synonymous with clean, renewable methanol.

Iberdrola is a pioneer in green hydrogen with two real plants already operating in Spain: a 20 MW plant for fertilisers in Puertollano and a 2.5 MW plant for heavy mobility in Barcelona. Our ambition does not end here, and our target is to reach 3 GW of installed electrolyser capacity globally by 2030. As a natural progression to our investment in green hydrogen, the Company is now developing green methanol projects to serve customers in the chemical and maritime industries.

FORESA is a chemical industry with more than 50 years of experience in chemical processes and production plants in Spain, Portugal and France. Methanol is one of the main raw materials for the formaldehyde and resins production and is used in several sectors and final products, such as the wood industry, packaging, construction, cork, pharmacy, composites, biofuels, insulation materials, etc. And in its sustainability path, the use of low-carbon raw materials is part of the business strategy. In addition, FORESA has a maritime terminal in the port facilities, which can be used for bunkering operations.

About the project

The GREEN MEIGA project will receive €122.9 million of funding to produce 100,000 tonnes/year of e-methanol.

This project has been conceived as a door-opener in the sector, which will help unlock future investments in e-methanol. This will be the result of generating an enriching know-how and unquestionable Highly Competitive Outcomes in three technological areas that will spearhead the mass deployment of e-methanol technology in the coming years. These Highly Competitive Outcomes comprise the following: enhanced production performance (Highly Competitive Outcome 1); improved operational flexibility (Highly Competitive Outcome 2); and competitive production costs (Highly Competitive Outcome 3). For this, the project will develop novel concepts and technologies that cluster in a single integrated system, as an all-in-one, high-tech, e-methanol processing solution, which will be capable of avoiding 2,901,078.24 tonnes (t) of CO2 emissions (CO2eq) thanks to its integration in a unique business case.

The GREEN MEIGA project will have access to a relevant uncovered market share, reinforcing the market positioning of IBERDROLA and FORESA as key players of the e-methanol industry. The strong commitment of both companies allows them to set out such an ambitious path, which will follow in the forthcoming years with a replicability plan, reaching more strategic and carefully-selected sites. GREEN MEIGA initiated its strategic initiative by launching an ambitious and challenging industrialisation roadmap, designed as synonymous with a guarantee to ensure a reliable market take-up of the solution by the year 2027. To that end, the Company has formalised its nomination to the IF-LS programme to support the great investments required for the construction and operation of a commercial high-tech solution capable of producing 100,000 t/y of e-methanol by generating 20,000 t/y of green hydrogen and capturing 152,698 t/y of CO2. This translates into a reduction of 2,901,078.24 tCO2eq/y, which is circa half of the effect of the Yosemite National Park in the USA.

The cost-efficient production of e-methanol is essential for the chemical sector’s decarbonisation pathway, contributing to the European goal of reaching climate neutrality by 2050. The project will also contribute to the goals of the REPowerEU Plan of reducing fossil fuel consumption in industry and transport. As methanol is an important feedstock in the chemical industry, the on-site production of e-methanol can reduce GHG emissions, stimulate local economies and reduce the EU’s current fossil fuel dependency.

GREEN MEIGA provides stability, reliability and sustainability to the economic model as well as social and territorial cohesion, as it will contribute to the creation of green jobs in Spain, expecting to create up to 426 jobs during the operation stage (considering permanent, temporary and induced) and around 6,000 jobs during the construction stage.

Participant roles

Iberdrola will act as Coordinator, thus leading and monitoring all those activities carried out during the main phases of the project. From an operative point of view, Iberdrola will be essentially involved in those activities related to the hydrogen production module, where it has a wider background and experience.

FORESA will carry out all of those activities related to the reception and refinement of CO2 from biogenic sources and the CO2-capture module, also including the e-methanol synthesis. Furthermore, FORESA will strongly support the development and implementation of the Knowledge Sharing Plan.



Key Data


100,000 tonnes/year CH₃OH

Electrolyser Capacity

151 MW (mix of technologies)


October 2025


July 2027

Secured industrial land

Up to 15 Ha

Fast track

Priority Business Initiative recognised by local Government

Funding scheme

Innovation Fund: €122.9 million

CO₂ reduction 

2.9 Mt CO₂ eq avoided in 10 years


Carlos Fúnez Guerra

(+34) 638 427 113


What are the main uses of green methanol?

Methanol (CH₃OH), also known as methyl alcohol, is a chemical compound in great demand due to its many industrial applications. It is used as a solvent and as an antifreeze, as well as in the production of plastics, wood boards, building materials and synthetic fuels, among others.

The expansion of green methanol as an alternative fuel to fossil fuels is particularly attractive to the high-value chemical and maritime industries because, being liquid at room temperature, it is much less costly to store and transport than gaseous fuels. Additionally, e-methanol has the lowest carbon footprint of all liquid fuels, further increasing its value. It can also be used in both internal propulsion engines and to power fuel cells, providing flexibility depending on individual needs. 

Iberdrola Renovables

El Grupo Iberdrola comenzó a invertir en energías renovables hace más de dos décadas como base sobre la que construir su modelo de negocio limpio, fiable e inteligente. Gracias a esta perspicacia, la compañía es hoy líder mundial en energías renovables, con 41.250 MW renovables operativos a finales del primer semestre de 2023 y con 7.100 MW en construcción, lo que la posiciona a la vanguardia de la transición energética hacia una economía baja en emisiones.

Este compromiso se refleja en nuestro Plan estratégico 2025, que destinará cerca de 17.000 millones de euros al negocio de renovables. Gracias a estas inversiones, Iberdrola incrementará su potencia renovable instalada en 12.100 MW hasta alcanzar los 52.000 MW en 2025.

La descarbonización del planeta figura entre los objetivos que los países de todo el mundo se han fijado para 2050. El compromiso con una sociedad descarbonizada es tarea de todos. En Iberdrola estamos comprometidos a liderar la transición energética –un reto que emprendimos hace 20 años y que nos ha convertido en líderes mundiales en renovables–.

Estamos comprometidos con la electrificación de la economía, la promoción de la energía verde y la innovación tecnológica. En este sentido, el proyecto GREEN MEIGA aúna todos estos compromisos y nos sitúa en la dirección correcta para garantizar un futuro más verde a las próximas generaciones.

Financiado por la Unión Europea. No obstante, los puntos de vista y opiniones expresados son exclusivamente los del autor o autores y no reflejan necesariamente los de la Unión Europea ni los de la Agencia Ejecutiva Europea de Clima, Infraestructuras y Medio Ambiente (CINEA). Ni la Unión Europea ni la autoridad otorgante pueden ser consideradas responsables de las mismas.