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bp to take stake in one of the world's largest green hydrogen projects

 Last Update: 2022-08-17
 Source: Internet
 Author: User

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Global oil giant BP is preparing to take a stake in the 26GW Asian Renewable Energy Hub (AREH), one of the world's largest green hydrogen projects, according to a report by the Institute for Energy Economics and Financial Analysis on May

An announcement on the future of AREH is expected this week, with Australian media reports late on Monday that bp will have a "substantial stake" in the project, which is currently owned by Intercontinental Energy, CWP Global, Vesta and Macquarie Gro.

According to The Australian, bp will officially announce the investment at the World Hydrogen Summit in Rotterdam this we.

WA's director of hydrogen projects, Mactineran, said it would be one of the driving forces behind the state's green hydrogen indust.

bp's participation in the AREH project will be a significant development for the project itself and for bp itse.

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