German-Austrian industrial group Obrist Group has unveiled plans for giant solar parks, called Gigaplants, designed to produce green methanol, a potential game-changer in the fight against climate change. Unlike traditional solar parks that generate electricity, Gigaplants capture atmospheric carbon dioxide (CO2) and convert it into clean-burning methanol through a process called Direct Air Capture (DAC).
According to Obrist Group CEO Frank Obrist, each Gigaplant can remove a staggering 6. 2 billion tons of CO2 from the atmosphere annually, making them CO2-negative. This captured carbon can be a valuable resource, with the potential to be used in manufacturing carbon fibers or plastics, further enhancing the economic viability of the Gigaplant technology.
Obrist highlights the economic benefits of the Gigaplant design. “At just under 6 cents per kilowatt hour, methanol is far more cost-effective than any other energy source, ” says Obrist. “This will free up market forces for the nearly $50 trillion cost of building the Gigaplants. ”
The Obrist Group estimates that 2, 700 Gigaplants would be required to completely replace fossil fuels with green methanol. While the upfront cost is substantial, Obrist believes the long-term economic benefits outweigh the initial investment.
“Production, transportation, and use of green methanol are many times cheaper than all fossil fuels or other energy sources such as nuclear power, ” says Obrist. “Investments in Gigaplants represent an extremely lucrative business model. ”
The Obrist Group is already partnering with technology companies and investors worldwide to bring Gigaplants to fruition. Projects are planned in Namibia, Egypt, Thailand, and the USA, with a focus on regions with high solar intensity, maximizing efficiency.
Obrist also sees the potential for Gigaplants to empower developing nations. “The economically weaker Global South, in particular, will benefit from the switch to a methanol economy due to its geographical location, ” says Obrist.
The Obrist Group believes Gigaplant technology has the potential to revolutionize the energy sector, combating climate change while creating a sustainable and economically viable energy source.
