BP acquires controlling stake in Australian renewables project
Oil major buys 40.5pc share in Asian Renewable Energy Hub, which will supply power to local mines and produce green hydrogen and ammonia
BP has acquired a 40.5pc equity stake in and become operator of the Asian Renewable Energy Hub (AREH)—a planned 26GW onshore wind and solar project in Australia that will also produce green hydrogen. AREH, in the Pilbara region of Western Australia (WA), was first proposed in 2014 and developed by green hydrogen firm Intercontinental Energy, renewables developer CWP Global and financial services firm Macquarie Capital, which will retain a 26.4pc, 17.7pc and 15.3pc share in the project respectively. Danish wind firm Vestas has sold its stake. The project intends to supply renewable power to local mining firms and produce either 1.6mn t/yr of green hydrogen or 9mn t/yr of green ammonia from 14

Also in this section
23 June 2025
Funding deals for two major projects lift the mood in a sector hampered by local bureaucratic delays and bearish global sentiment
18 June 2025
The country’s green hydrogen sector can gain traction even as the global trade war rages and other headwinds hamper the sector, Mohsen al-Hadhrami, undersecretary of energy and minerals, tells Hydrogen Economist
18 June 2025
UK risks losing out on in race to secure hydrogen imports as its refusal to back ammonia cracking sinks $2.7b Immingham project
11 June 2025
China emerges as clear frontrunner as US growth stalls and Europe burdens its industry with labyrinthine regulations