BP first bought a 40.5% operating stake in the Australian Renewable Energy Hub project in 2022, and its share in the joint venture grew to 63.57% in recent years. The project would include the installation of up to 26 GW of solar and wind generation, much of which would have been used to produce green hydrogen and ammonia.
British energy major BP has informed its partners that it intends to exit the $55 billion (USD 36.14 billion) green energy hub planned for Western Australia’s Pilbara region.
Source: PV Magazine: Read The Article
PSR Analysis: BP’s decision (which reflects BP’s recent strategy reset) comes after energy and mining giant Fortescue formally announced it has abandoned plans for a green hydrogen project in Queensland and is another blow to hydrogen in Australia. PSR
Guy Youngs is Forecast & Adoption Lead at Power Systems Research
