BP to Acquire Stake in Major Australian Renewables and Green Hydrogen Project

June 16, 2022--Researched by Industrial Info Resources (Sugar Land, Texas)--BP plc (NYSE:BP) (London, England) has agreed to acquire a 40.5% stake in, and become operator of, the Asian Renewable Energy Hub (AREH) Power-to-X project in western Australia, which will support solar and wind generation and green hydrogen production.

The project plans to generate up to 26 gigawatts (GW) of combined wind and solar power, which could be used to produce around 1.6 million tons per year of green hydrogen or 9 million tons of green ammonia.