Oil major, bp is set to take a 40.5% stake in one of the ‘world’s largest’ renewables and green hydrogen energy hubs in Western Australia, which could produce 1.6 million tonnes of green hydrogen per year.
bp has today (June 15) announced it has agreed to acquire a 40.5% equity stake in and become the operator of the Asian Renewable Energy Hub (AREH), in Pilbara, Western Australia from July 1, 2022.
At full capacity AREH could produce up to 1.6 million tonnes of green hydrogen or nine million tonnes of green ammonia per year, utilising its position with access to abundant solar and wind resources.
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