BP will purchase a 40.5% stake in and operate a solar, wind and green hydrogen project in Western Australia that, when completed, will be able to generate up to 26 GW of solar and wind power.
By taking part in the project, the oil giant aims to supply green hydrogen from Australia to key markets including South Korea and Japan.
The Asian Renewable Energy Hub (AREH), which will be built in stages, proposes to deliver renewable energy to local consumers as well as manufacture green hydrogen and green ammonia for both domestic and export markets.
