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BP Bets Big on Giant ‘Green Hydrogen’ Project in Australia

BP PLC is taking the lead on a more-than-$30 billion venture to supply huge quantities of hydrogen from renewable vitality in Australia’s Outback, a serious guess on a promising various gasoline that’s in rising demand however stays costly.

The British oil big stated it’s taking a 40.5% stake in the venture, often known as the Asian Renewable Energy Hub, and can turn out to be its operator. One of the biggest such “green hydrogen” initiatives proposed so far, it’s anticipated to embody a 2,500-square-mile space larger than the scale of Delaware.