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bp acquires stake in green hydrogen project

June 16, 2022

Oil major bp said it plans to help develop what it calls “one of the world’s largest” green hydrogen hubs to based in Australia.

The company acquired a 40.5% equity stake in the Asian Renewable Energy Hub (AREH). In addition to the ownership share, bp said it plans to operate the green hydrogen hub.

Based in the Pilbara region of Western Australia, the hub would supply renewable power to local customers and also produce green hydrogen and green ammonia for the domestic Australian market and for export to major international users.

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