BP PLC (NYSE:BP) said it is planning a major green hydrogen project in the northeast of England, Teesside. Industries in the Teesside region account for more than 5% of the UK’s industrial emissions and is also home to five of the country’s top 25 emitters.
The project will generate wind, water, and solar energy in Britain’s bid to move away from fossil fuels.
The HyGreen Teesside project aims to produce 500 MWe (megawatt electrical input) hydrogen production by 2030. The facility will be developed in multiple stages with the initial start of the project aiming at 60 MWe. The so-called green hydrogen will derive from renewable sources by 2025.
The latest project of the oil-and-gas company is in addition to the already-proposed blue hydrogen project, H2Teesside. The two plants have the potential to deliver 30% of Britain’s 2030 target, BP said.
Louise Jacobsen Plutt from BP: “Low carbon hydrogen will be essential in decarbonizing hard-to-abate industrial sectors, including heavy transport. Together, HyGreen and H2Teesside can help transform Teesside into the UK’s green heart, strengthening its people, communities, and businesses. This is exactly the type of energy we want to create and, more importantly, deliver.”
While HyGreen Teesside may be BP’s first green hydrogen project in the UK, BP is further pursuing proposed projects for production in mainland Europe at its refineries in the Netherlands, Germany, and Spain.
A feasibility study identifying opportunities in Western Australia for green hydrogen production has also been carried out by the company.
“This is excellent news following the recent COP26 summit, and I look forward to supporting the industry to develop new technologies as we build a cleaner transport system and work towards a net-zero future.” – UK Transport Secretary, Grant Shapps
Want to invest in Stock? Visit MEXEM today.
Dow Jones Global News