The ambitious redevelopment will create a "completely sustainable architectural complex designed to produce zero emissions".
When it reopens in 2014 as the elBullifoundation, 30 or so "culinary scholars" will be selected each year from across the globe to work with the master chef.
"The vision is to focus on creativity," said Adria, admitting that this was no longer possible while running a commercial restaurant.
"The motto for the project is: 'Risk-taking, freedom and creativity'.
"There will be no timetable, no routine, no rules." Radical buildings at the heart of the project include a "brainstorming hall" made up of a series of bell-shaped glass structures created using "cutting-edge" solar-power technology.
Culinary workshops will be housed within "coral-like" ceramic caverns designed to produce as much energy as they consume. And a pool of algae will absorb carbon dioxide produced by those within the complex.
An archive of all the ideas formulated by the 48-year-old Adria would be stored in what the chef described as "a chamber like a giant filing cabinet full of every idea and experiment we can think of. It will be a record for all humanity and for all time of what we do here at El Bulli."
A film crew will be following developments to broadcast daily clips on the foundation's website.
Read the full story at The Age.