BP has decided to withdraw from the Australian Renewable Energy Hub (AREH), a large-scale renewable energy project in which it held a majority operating stake.
The project was designed to generate up to 26GW of wind and solar power, primarily for the production of green hydrogen and ammonia. BP’s exit from AREH, where it was both an operator and equity holder, reflects a shift in its strategy to prioritize its oil and gas business and be more disciplined in its energy transition investments.
Despite BP’s departure, the remaining consortium partners, InterContinental Energy (now the operator) and CWP, are committed to advancing the AREH project, highlighting its importance for regional decarbonization and economic diversification. The project’s full build-out could include over 12GW of electrolyser capacity, with an initial phase planned to supply renewable electricity to Western Australia’s Pilbara region.
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