Bp To Take Operatorship Of AREH Project

(RTTNews) - bp (BP.L, BP_UN.TO, BP) has agreed to acquire a 40.5 percent equity stake in and to become operator of the Asian Renewable Energy Hub in the Pilbara, Western Australia. bp will assume operatorship from 1 July 2022. The other partner shareholders in AREH will continue to be InterContinental Energy, CWP Global and Macquarie Capital and Macquarie's Green Investment Group.

AREH has plans to develop onshore wind and solar power generation in multiple phases to a total generating capacity of up to 26 gigawatts. It will be capable of producing around 1.6 million tonnes of green hydrogen or 9 million tonnes of green ammonia, per annum.