The plans, made by Scottish Enterprise Fife, have been submitted to Fife Council.
It will include a futuristic hydrogen production system which developers say has the potential to become a world-leading renewable energy solution.
"Renewable energy is an area in which Scotland already has a growing reputation for excellence," Willie Johnston, director of strategic projects at Scottish Enterprise Fife, said.
"It is becoming one of the world's fastest growing sectors in which Scotland has a considerable presence with the potential for momentous development.
"The energy centre is one of a number of potential projects earmarked for the emerging energy hub at Methil and we are confident that, if given the green light, the project will deliver significant economic benefit not only for Fife, but for Scotland as a whole."
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